Egypt’s 7 contractors to develop 6th Oct. City’s 50 feddans in 3yrs

Egypt’s seven major construction firms plan to develop 50 feddans in Sixth of October City within the next three years, with expected investments approaching 4 billion Egyptian pounds ($228.1 million).

The seven contractors are state-run El Shams for Housing and Development, El Nasr for Building and Construction (EGYCO), Cairo for Contracting and Real Estate Investment, Giza General Contracting and Real Estate Investment, and El-Mahmoudia General Contracting and Real Estate Investments.

“The firms, which own the land plot, had earlier come up with the designs of the anticipated commercial and services projects,” El Shams’ chairman Mahmoud Maghawry said on Thursday.