Hassan Allam to start 3 new multi-billion-pound property projects this year

Egypt’s state-run construction firm, Hassan Allam is launching three new real estate investment projects costing more than 1.5 billion pounds ($82.8 million) before the end of this year.

The company will start offering property developers a major residential project on a space of 18,000 km in Muharram Bek Square in Alexandria worth more than 1 billion pounds.

The project will be carried in partnership with two property developers, said Hassan Allam’s managing director Atef Barbary, referring to the completion of studies.

The two companies are expected to start construction works within 2 months, Barbary added.

Barbary added that Hassan Allam will implement two additional residential projects in Cairo and Marsa Matruh on a space totalling 24,000 km worth 500 million pounds.