Exclusive: shares of contractors’ works in Egypt new capital
Egypt’s national project to build a new administrative capital has managed to attract large number of contractors to implement residential, utilities, and infrastructure works there.
The anticipated capital has become a main gateway for the Egyptian contractors to boost their business volume and contribute to the country’s national mega projects.
“The new capital is one of the most substantial national flagships that managed to create job opportunities for the construction firms of all segments operating in the country.” Hassan Abdel Aziz, head of the Egyptian Federation for Construction and Building Contractors (EFCBC), said.
There are seven major construction firms already capturing the lion’s share of the mandated works in the new administrative capital project, namely Arab Contractors, Orascom, Hassan Allam, Concord, Petrojet, Talaat Mostafa, and the Holding Company for Construction and Development (HCCD).
For the HCCD, the company itself captures 40 percent of the utilities works in the county’s new capital, according to its chairman Mahmoud Hegazy.
Hegazy further stated that HCCD’s affiliates were mandated to execute the works, at a cost worth more than one billion Egyptian pounds ($56.7 million).
“These firms are Hassan Allam, Moukhtar Ibrahim, El-Abd, and Misr Concrete Development,” the Egyptian official told Amwal Al Ghad on Monday.
Arab Contractors
Egypt’s construction firm Arab Contractors is one of the biggest firms of mandated works in the new capital. The company is carrying out works worth ten billion Egyptian pounds ($566.6 million) in the new capital, its chairman Mohsen Salah said.
There are 1,760 staff working in the new capital project, relying on 240 equipment and machineries.
Salah noted that these works include a number of infrastructure and road works as well as utilities and drinking water networks in addition to housing projects and other giant governmental facilities.
“We have been tasked with implementing initial utilities works worth three billion pounds in the project,” he elaborated.
The company has recently been mandated to build the parliament’s 148,000m2 headquarters, one of the biggest government facilities in the new capital’s ministerial district, as well as some services buildings.
AC is also carrying out drilling works for a grand mosque project there, named Al Fattah Al-Aleem, on a space that is 10 times bigger than Al-Azhar Mosque. Set to accommodate 10,000 prayers, the mosque will also have the biggest dome and minaret.
AC hopes to deliver the grand mosque in January 2018, according its chairman.
The state-run company is also providing utilities to 500 feddans.
It works on 78 residential buildings, consisting of 2,440 units in two phases, at total cost of more than 1.1 billion pounds. The accomplishment rates have recently reached 80 percent for the first phase and 60 percent for the second.
Orascom Construction
The Egyptian company has recently completed the military-owned Al Masah Capital Hotel, which is one of the major giant facilities built in the new capital.
Al Masah Capital was implemented within a 31-month timeframe, through Orascom’s alliance with Hassan Allam and MEDCOM, at total cost exceeding one billion pounds.
In January 2017, Orascom was mandated to execute the biggest church in the new capital. It will be inaugurated within January 2018.
The company is also providing utilities for 740 feddans, in partnership with Hassan Allam.
Talaat Mostafa
The real estate developer company is currently executing 69 buildings in the new capital’s first residential district. The works consists of 2,096 units, at a cost of more than 900 million pounds.
Moukhtar Ibrahim,
The HCCD-affiliate company has been charged with providing utilities and housing works for six residential buildings, within an 18-month timeframe.
It is also carrying out a number of utilities works, comprising roads, drinking water, and sewage mandates, worth 200 million pounds. They represent 20 percent of HCCD’s mandated works in the new capital.
Hassan Allam
In April 2017, the company was assigned with implementing the justice ministry’s massive headquarters in the ministerial district, spanning over 8,000 square metres, at cost worth more than 1.3 billion pounds.
It is also providing utilities works of 400 million pounds in addition to establishing 19 residential buildings.
El-Abd
The company is executing utilities and road works worth 50 million pounds as well as six additional residential buildings.
EGYCO
The company is carrying out a number of utilities works, including sewage and drinking water lines, worth 250 million pounds as well as eight residential buildings.
Misr Concrete Development Company
The company is implementing utilities projects of 75 million pounds in addition to three residential buildings.
Wady Alnil for General Contracting
The company is executing 121 residential buildings.
Concord for Engineering and Contracting
The company has been mandated to establish 61 residential buildings, at a cost nearing 800 million pounds.
MEDCOM
The company has participated in implementing 20 percent of Al Masah Capital, at a cost worth more than 400 million pounds. It is currently carrying out 33 residential buildings.
During the past two months, the company won a mandate to carry out a number of lagoons and drinking water plants as well as housing units, 13 villas, according to sources with knowledge.
Dorra Group
The company has been charged with executing 1,000 housing units over 20 feddans at a cost worth 1.7 billion pounds, scheduled for delivering within a 30-month timeframe.
It will soon reach an official agreement to implement 58 residential buildings, at a cost of 1.2 billion pounds.
EMAC Contracting
The company, which is an affiliate of Kuwait’s Al Kharafi and Sons Group, has been recently mandated to build a number of road projects worth 70 million pounds.
The company doubled its business volume for its ongoing flagships in the new capital to reach 300 million pounds in September.
Petrojet
The company is implementing 36 buildings in the residential district, involving 1,008 units, at total cost of around 400 million pounds.
There are 12 construction firms working on the ministerial premises in the new capital, mainly SIAC, Samcrete, Orascom, Arab Contractors, Al Rowad Group, Hassan Allam, El Soadaa Contracting Co, Red Sea Contracting and Construction Co (REDCO), and Talaat Mostafa.
