Egypt’s Hyde Park Properties for Development Company (HPD) says it has signed construction contracts of one billion Egyptian pounds ($56.7 million) to develop five areas in Hyde Park project in New Cairo within 2017 and 2018.
Amin Serag, HPD’s chief executive, said Sunday that these contracts were signed with a bunch of the county’s construction firms, including Hassan Allam, Redcon Construction, Solid Constructions, Tiba for Construction and Real Estate Investment, and Construction and Design Company (CONSTEC).
“The company cooperates with a number of the best contractors, who will be responsible for developing the building and infrastructure works of the residential buildings in the flagship,” Serag further stated.
As for Hyde Park, the Egyptian official added the fully-fledged residential project is to be established over 6 million square metres in 8 phases, with an investment cost exceeding 35 billion Egyptian pounds ($2 billion).
These phases will comprise residential, administrative, and services parts, Serag said, elaborating that the housing units’ spaces will range between 82 square metres and 1,200 square metres.