Dorra Group’s unit nears deal for 58 buildings in Egypt new capital city

Egypt’s property developer Dorra Group said its affiliate is close to signing a final contract for the implementation of 58 residential buildings in the country’s new administrative capital city.

The contract, expected to sign next month, will see Dorra’s Construction and Reconstruction Engineering Company (CRC) execute 58 residential buildings at a total cost of 1.2 billion Egyptian pounds ($68 million).

Tarek Soliman, Chief Executive at Dorra Group, said Sunday that his company was also mandated to carry out 1,000 luxury housing units in the new capital city over 20 feddans.

These units are to be completed within a timeframe of two years and half, Soliman further stated.

Dorra Group is expected to sign another contract within the coming period in order to establish other residential buildings, the Egyptian official added.