Egypt’s Hyde Park Properties for Development (HPD) signed Wednesday an agreement worth more than 1.5 billion Egyptian pounds ($84.4 million) with five local construction firms for its underway New Cairo project.
The five firms that signed the Hyde Park contract are Hassan Allam, Misr Engineering Development Company (MEDCOM), Modern Construction Company (MCC), Hirmas, and Concrete Plus for Engineering and Construction.
Marwan Ziwar, Chief Commercial Officer at Hyde Park, said his company plans to deliver 300 housing units in Hyde Park New Cairo flagship.
“We have launched another project in North Coast, with an investment cost estimated at 12.5 billion pounds, over 225 feddans.” Ziwar further stated.
The Egyptian official further said that the first phase of the project would be launched mid-2017.