HCCD’s affiliates in talks to execute a project in Cairo-Ismailia road

Big 5

A number of Egyptian firms, affiliated to Holding Company for Construction and Development (HCCD), have submitted offers to participate in carrying out a new residential project in Cairo-Ismailia desert highway road.

The project will include implementing 3,000 housing units, with investments exceeding 2.5 billion Egyptian pounds ($139.7 million), an official source in a HCCD’s newly-established affiliated firm said on Tuesday.

“The land plot is owned by Egypt’s construction firm Hassan Allam,” the source told Amwal Al Ghad, adding that works on the three-phase project will begin before the end of this year.

An alliance of three state-owned real estate companies will partake in establishing the project, he said, adding that one of HCCD’s newly-founded firms have been mandated to market the project in the local market.