Egyptian Redcon Construction says it is on track to carry out a number of residential villas in Marassi, a project owned by Emaar Misr in North Coast area.
The villas are being built at a cost of 400 million Egyptian pounds ($22.3 million), Redcon’s chief finance officer Ali Arfan told Amwal Al Ghad.
Redcon agreed to carry out the project four months ago, Arfan said.
“We are planning to deliver the villas within 32 months,” he added.
Emaar Misr, the Egyptian unit of UAE property conglomerate Emaar Properties, is the main developer of Marassi touristic resort flagship.
Moreover, Redcon was mandated to implement the initial works of a Japanese university in New Alamein City, northwest of Cairo, during the last months the source said, adding that the works will include infrastructure projects worth 25 million pounds.