CRC to deliver 1,000 housing villas in Egypt’s new capital at end-2020
Egypt’s Construction and Reconstruction Company (CRC), an affiliate to Dorra Group, says it seeks to complete delivering 1,000 housing villas mandates in New Administrative Capital’s third residential district at the end of 2020.
Tarek Soliman, CRC’s chief executive, said Saturday his company has signed two contracts worth 1.7 billion Egyptian pounds ($95.6 million) to execute these villas in various phases during the last period.
“It is scheduled to start delivering the villas’ first phase at the end of 2018, while the other phases will be handed over within the next two years,” Soliman added.
Asked about CRC’s more works, the Egyptian official referred that his company has been also tasked with carrying out a bunch of new mega residential projects in the new capital.
Located 40km (24.8 miles) east of Cairo, the anticipated new capital city is part of the Egyptian government’s scheme to expand urban areas to deal with the state’s rapid population growth and improve the nation’s infrastructure.
The new city is set to be a 270-square-mile hub with 21 residential districts to accommodate five million people. It is to feature 1,250 mosques and churches as well as 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the world’s largest.