ZED SHEIKH ZAYED MEGA-PROJECT APPOINT CONTRACTOR IN EGYPT

The construction of Zed Sheikh Zayed mega project in Egypt is making progress after a contractor was appointed.

The contractor Orascom Construction will be tasked to build the first phase of the mega project after WATG International finished completion of the master plan and architectural design work.

According to the terms of the contract, Orascom is required to build approximately 600 housing units in this phase, along with a three-storey garage, a two-level mall, and four 17-storey apartment towers.

Meanwhile, this initial phase will be financed by Banque Misr following a loan agreement worth approximately US$ 63m that was signed with Ora Developers.

Orascom Construction’s CEO Osama Bishai said “We have been pioneers in constructing distinguished commercial projects in Egypt and look forward to building on our longstanding track record in this particular sector”.

While, the CEO of Ora Developers Haitham Abdel Azeem said they plan to ensure an exclusive experience for its customers as well as maintaining a good pace of construction of the project in order to finalize the project as planned.

ZED Sheikh Zayed mega-project in Egypt will be built in six phases and, upon completion, it will feature over 4,500 residential units and an administrative commercial complex.

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