Egyptian developer Tatweer Misr is expected to appoint the main contractor for the first phase of its $1bn Il Monte Galala project by September.
MEED has learnt the first phase will see an initial investment of about $250m and will include 1,600 housing units and a hotel.
It is unclear at this stage which contractors have submitted bids; it is understood the main contractor will be appointed through direct negotiations.
Several consultants have been appointed to work on various aspects of the scheme. They include:
- Shaker Consultancy Group (local)
- BCIstudio (UK)
- 5+1AA (France)
- Petersham Group (UK)
The project manager on the scheme is Projacs, which is now majority owned by Frances Egis.
The Il Monte Galala mixed-use project, which is being developed 120 kilometres west of Cairo in Ain al-Sokhna, will be launched over three phases featuring about 5,000 housing units and two hotels.
The first phase is expected to be completed by 2021, with the second and third phases likely to be delivered by 2025.