CRC inks 3 contracts for Emaar’s residential projects in New Cairo

Egypt’s Construction and Reconstruction Company (CRC) says it has signed three contracts to carry out new residential flagships worth 500 million Egyptian pounds ($27.9 million) in New Cairo, in favour of UAE’s Emaar Properties.

CRC’s Chief Executive said Monday that this comes as part of the scheme of his company, an affiliate to Dorra Group, to increase the business volume, through developing a bunch of mega residential projects for major property development firms.

“The company’s total contracts reach 8.5 million pounds until 2018,” Tarek Soliman further added.

Moreover, the Egyptian official referred that CRC is currently negotiating with a number of senior real estate developers in order to attain new contracts to execute eight projects before the end of this year.