El Shams Housing to launch tender for Solana Sun’s phase I in Egypt new capital

Egypt’s El Shams for Housing and Development said it plans to launch a tender to execute the first phase of its flagship – Solana Sun – in the country’s new capital within next October.

The state-owned company is preparing to pump 500 million Egyptian pounds ($31.9 million) into the construction works of the project’s first phase until 2021, announced its chairman Mahmoud Maghawry on Sunday.

El Shams Housing also seeks to complete the infrastructure works of the project within a timeframe of three-year maximum, Maghawry added.