Egypt Hassan Allam to develop Alexandria’s hotel project in H2

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Egypt’s construction firm, Hassan Allam says it seeks to start developing a hotel flagship in Muharram Bek Square in Alexandria, the state’s second largest city, within the second half of 2018.

Hassan Allam’s Managing Director for Financial Affairs said Thursday the project will be executed in cooperation with two state-owned firms; El Nasr Housing and Development as well as Maadi for Development and Reconstruction, at a cost exceeding 1.5 billion Egyptian pounds ($83.9 million).

“The project is set to be carried out on a space of 14,342 square metres and it is set to encompass the establishment of major towers, including commercial and administrative units,” Atef Barbary further added.

In addition, Barbary said Hassan Allam that is an affiliate to Holding Company for Construction and Development (HCCD) plans to develop a new residential flagship over eight feddans in Mohandessin district in Giza governorate.

“The residential project will comprise housing units for above-medium income segment,” he concluded.