Egypt’s Al-Abd says delivered 95 social housing buildings in 2016

Egypt’s construction firm Al-Abd, an affiliate of the country’s Holding Company for Construction and Development (HCCD), says it has delivered 95 housing buildings in the state social housing project during 2016.

The buildings were carried out within an 18-month timeframe, with total costs 280 million Egyptian pounds (15.6 million).

Ashraf Noaman, Head of Planning Sector at Al-Abd, said Saturday that the buildings are located in Sohag, New Minya, Alexandria, Cairo, and Ismailia governorates.

Moreover, Noaman further added that Al-Abd is planning to double its businesses within the next period, through expanding activities into the country’s real estate investment sector, launching new projects in the local market, and developing its land portfolio.

“We own a number of giant land plots in Obour and Sixth of October cities, at spaces exceeding 5,000 square metres in addition to other lands in Alexandria with spaces of more than 4,000 square metres,” he noted.