Egypt’s Hassan Allam reports 6.8 bln pounds total contracts signed till 2017

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Egypt’s construction firm, Hassan Allam reported 6.8 billion Egyptian pounds ($376.6 million) in its total contracts including a number of housing and infrastructure projects signed until 2017.

The company also plans to increase its total business volume to reach 2.5 billion pounds at the end of 2018, compared with 2 billion pounds in 2016.

Atef Barbary, Hassan Allam’s Managing Director, said Saturday that his company is studying the development of a major project in Muharram Bek Square in Alexandria, on a space of 18,000 square metres.

The project will be developed in partnership with Maadi for Development and Construction as well as Al Nasr Housing and Construction, Barbary stated.

The Egyptian official further added that the total cost of the project would exceed one billion pounds.

Barbary showed that Hassan Allam studies developing another real estate project next to Sphinx Square in Mohandeseen district, on a space of 8,000 square metres.

“We are currently implementing two residential towers in Marsa Matrouh,” he noted.

Moreover, Barbary elaborated that Hassan Allam is tasked with executing a giant share of works in the country’s new capital city project.

These works include utilisation and roads, alongside a number of housing units in the project’s first phase, a total cost of 700 million pounds, Barbary referred.

“We will deliver the works at the end of next June,” he concluded.

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