Saudi’s Scope to develop Mokattam Corniche in Egypt

Egypt’s Nasr Housing & Constriction Company signed a contract with Saudi company Scope Properties to develop Mokattam Corniche development project with Foster+Partners Office.

Egyptian Ministry of Public Sector said in a statement that Foster+Partners will create the project’s design and both Nasr Housing & Development and Scope Properties will implement the project.

Mahmoud Esmat, Minister of Public Sector, said in a statement that Egypt is now witnessing a new stage of the project and the revenues are expected to exceed 60 billion Egyptian pounds.

CEO of Scope Properties, Alaa Khedr, said that the project “is currently in the works by a group of strategic and international companies.”

While the Nasr Housing & Development’s CEO, Mohamed Abdel Maqsod, said that the project resembles an important shift to the Mokattam area.

He also said that the project will have an area of around 2 million metres with a view of the pyramids, Saladin Citadel, Fatimid Cairo, and the National Museum of Egyptian Civilization.

The project will need around 32 billion pounds paid by the investor. Abdel Maqsod also added that the project has two phases, the first being the corniche and benches with an area of 1.3 million meters.

While the second phase will be a housing compound with around 750,000 meters in El-Hadaba El-Wosta area, and it will include touristic, commercial, athletic, and educational activities in addition to more activities.