Egypt-based Redcon Construction Company is developing 400 housing units in Emaar Properties’ Mivida New Cairo Project, said Head of Tendering Section Kareem El-Shazly on Saturday.
“We are developing the units with cost of 500 million Egyptian pounds ($27.7 million),” El-Shazly noted.
The housing units include twin houses and villas, he added.
The Egyptian official further stated that Mivida project is among UAE property developer Emaar’s flagships in Egypt.
Redcon is developing four semi- furnished residential units in Mivida, which is one of the country’s mega real estate projects, El-Shazly told Amwal Al Ghad.
“We are implementing other educational institutions in Mivida,” he added.
El-Shazly clarified that his company is currently negotiating with Emaar in order to execute more housing units and commercial buildings.
Redcon is studying the development of residential districts in Mivida as part of the company’s plans to expand into major utilisation project, he concluded.
