Contractor picked for Egyptian residences

30 December 2007
Emaar Misr has picked Orascom Construction Industries-Contrack (OCI-Contrack) for the contract to build villas and townhouses at its Marassi development.

Located at Sidi Abdel Rahman Bay on the Alexandria-Marsa Matrouh road, the $1.7bn mixed-use project involves building 3,000 hotel rooms and 5,300 residential units, a marina, golf course, hospital, helipad and the redevelopment of the local town.

The project is expected to be completed by 2011. The development has six kilometres of beachfront and is accessible from the Burj El-Arab and El-Alamein airports. Emaar Misr is a wholly-owned country subsidiary of Dubai-based developer Emaar Properties.

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