Five contractors will start works on the third district of Al Asmarat housing project dedicated for risky slums dwellers, said deputy governor of Cairo, Ahmed Taymour on Tuesday.
Spanning 80 feddans, the third district will be at total cost of 500 million Egyptian pounds ($56.3 million) financed by President Sisi-led Tahya Misr Fund, scheduled for completion in June 2017, Taymour added.
The five contractors assigned to implement the third district are, notably Atlas General Contracting and Arab Contractors, he said.
The third district is set to provide around 7,440 housing units and services facilities such as sporting clubs and educational centres, in addition to administrative buildings to serve residents, Taymour stated.
Egypt has delivered the first and second districts in Al Asmarat which is located in the neighborhood of El Mokattam earlier this year, with a total of 11,000 housing units and costs worth more than 2 billion pounds.
