The real estate firm Capital Group Properties (CGP), part of Abu Dhabi Capital Group (ADCG), will start implementing a smart village project in New Cairo city, part of Alburouj project during the third quarter of this year.
Alburouj’s investments exceed one billion Egyptian pounds ($55 million).
A bidding between a number of contracting companies is underway, to last for two months, seeking to win a mandate to start works in the smart village project, CGP chief projects officer Amgad Hassanein said.
The smart village will be established on a space of 100,000 square meters and is estimated to be completed in three years, Hassanein added.
The project includes implementing an extension for El Sawy Culture Wheel – one of the most important cultural venues in Egypt- in the smart village with a cost of 300 million pounds, he added.
Alburouj is an integrated urban community project provided with all services and facilities placed on an area of 1212 feddans between Suez and Ismailia desert roads .It comprises 30 thousand modern housing units, a medical complex, and a central park.