Egypt’s Maadi for Development and Reconstruction will receive the first phase of its residential flagship – Maadi View – in El Shorouk City within a year, a source said on Tuesday.
The project’s construction and utilities works cost more than 600 million Egyptian pounds ($37.2 million), the source with knowledge in one these firms further told Amwal Al Ghad.
“The first phase which is being executed by five major construction companies operating in the country’s public sector,” he said.
This phase will include the establishment of a number of residential buildings and fully-fledged infrastructure networks, besides 800 housing units, the source added.
The residential buildings are being carried out by the state-owned construction firm Al-Abd and Atlas General Contracting and Real Estate Investments, the source said.
Spanning over 136 feddans, Maadi View is being carried out in five construction phases, he said.
Being one of the biggest housing projects for state-owned housing companies, it is with an investment cost worth around 5 billion pounds.
