El Shams Housing develops 8 buildings with EGP500mln investments

Egypt’s state-run El Shams for Housing and Development is seeking to launch a new flagship in Sixth of October City including establishing 8 commercial and administrative building, its chairman said.

The fully-fledged project will span over 38,000 feddans, with total investments of around 500 million Egyptian pounds ($48 million), Mahmoud Maghawry added.

The project is set to include one medical centre and five commercial malls, he added.

The company will tender the construction works of the project as soon as it receives the ministry decree during February.

The company has completed the development of a  housing project in the 6th of October city, early 2019, with investments amounting to two billion pounds. The company is currently working on developing another project in partnership with a real estate developer.