| Work Detail |
$18mln agreement covers the delivery of villas and infrastructure
EGX-listed real estate developer Madinet Masr announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with El Hazek Construction to build infrastructure and residential villas for its Elect community located within the Taj City master plan.
The MoU covers the construction of 134 residential villas and infrastructure at a cost of 900 million Egyptian pounds ($18 million), Madinet Masr said in a press statement
The construction work is expected to be completed in 16 months, the statement said, adding that the MOU underscores the company’s commitment to accelerating the pace of construction and adhering to delivery schedules. Elect spans land area of 129,000 square metres (sqm) with a built-up area of 60,000 sqm.
Taj City master plan spans an area of 3.5 million sqm.
(1 US Dollar = 50.48 Egyptian Pounds) |
