Egyptian Contracting El-Abd to sign $38.3mn housing project next week

The Egyptian Contracting Company – El-Abd is to sign next week an agreement to carry out a new housing investment project in Alexandria, its CEO announced Thursday.

Mostafa Nasrat further said the project is with an investment cost worth 300 million Egyptian pounds (US$38.3 million).

The project is set to be on an area of 12,000 metres square and to include both commercial and housing units, Nasrat added. The project will be completed within a year.

El-Abd is expecting revenues of 500 million pounds from this project, the CEO noted.