Egypt’s Housing Ministry on Saturday signed a cooperation protocol with the alliance of Arabian Italian Companies to execute green building flagships in Egypt.
The protocol had been signed between the ministry and Spark Concord for Trading and Contracting Company, Master Com International Holding Group that was for the establishment of social housing units with the highest international standards of quality and efficiency for the green buildings, the alliance, and cooperation was agreed with the international Italian firm Schnell for modern building Systems and it’s considered one of the giants in the international building and construction sector, the deal is considered as the first of its kind in Egypt through an Italian company that will cost an investments exceeding two and a half billion Egyptian pounds.
In the presence of Mohamed Hisham Darwish the senior undersecretary of the ministry who was commissioned by Moustafa Madbouly, the Prime Minister and as a representative of the Ministry of Housing has signed the protocol representing the Egyptian side, in the presence of many Italian and Egyptian experts and investors in addition to many specialists in the field of construction from both sides.
Some of the Experts in the field of construction have valued this protocol that is signed; as it represents the intention of the state to achieve a leap in the establishment of the social housing units in accordance to the highest standards of global construction, which achieves the speed of implementation and the accuracy, efficiency of construction of social housing regards to the international standards of the green building systems.
The construction experts considered this step as a start to the entry of the group “Master Com International Holding companies” that is owned by the businessman Ashraf Alkott and the vice president “Ahmed Barada” to the Egyptian market and also an implementation of a number of large and diverse projects within the Arab Republic of Egypt.
On the other hand, Egyptian officials revealed that a press conference will be held soon, in which will announce the full details of the largest protocol in the field of housing and reconstruction. The conference will also unveil a series of MOUs and mega projects that will put Egypt ahead of attracting the Italian investment and It will also ensure major successes and giant development projects between the two sides.
