Five contracts to build a total of 1,800 residential units to be awarded before the final quarter of this year
Egypts Tatweer Misr is set to award five construction packages for work on the first phase of its Il Monte Galala project by September this year.
According to sources working on the scheme, the developer awarded the first package to local contractor UPTC in December last year, with the remaining contracts to build a total of 1,800 residential units to be awarded before the final quarter of this year.
The first phase, which will cost up to $250m, will be made up of 1,800 residential units and hotel development.
The hotel is currently in the design concept stage although an agreement with Thai hotel operator Six Senses was signed earlier this year. The architect working on the hotels concept designs is Italys 5+1AA.
The main consultant on the project is the local Shaker Group, while a newly established local firm, Chrome, is the serving as the schemes project manager.
In late last year the developer also signed an agreement with Chilean engineering firm Crystal Lagoons for the development of a lagoon that connects to the sea at the project.
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.
You might also like...
Iraq signs deal to develop the Akkas gas field
25 April 2024
Emaar appoints beachfront project contractor
25 April 2024
Acwa Power signs $356m Barka extension
25 April 2024
AD Ports secures Angola port concession agreement
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.