El Shams Housing to ink PPP deals with 4 contractors in Dec.

Egypt’s El Shams for Housing and Development says it will sign a public-private partnership (PPP) contracts with four contractors next December for its housing compound in the new capital.

With an expected value of 1.5 billion Egyptian pounds ($93.1 million), the deal will be signed to start the housing compound’s construction works, El Shams’ chairman Mahmoud Maghawry said on Sunday.

The state-owned company has recently launched auctions to execute the housing compound’s construction works in one phase, Maghawry added.

“We will start implementing the housing units and buildings of the project, which is spanning over 33.5 feddans, within the next few months,” he said.

The compound is set to include 1,580 housing units, with total investments approaching 2.5 billion pounds, Maghawry added.