Al Wali Construction and Urbanization Company will deliver the Housing and Development Bank’s building by next November. The building was established on an area of 800 meters in El-Tagamu El-Khames (fifth settlement) with cost of EGP 60 million.
The bank is committed to paying the installments on time for the 6-floor administrative building, said Mamdouh Abdel Monem, chairman of Al Wali Group.
Al Wali will not establish projects for the government as it has seen many contractors and construction companies are facing problems with the government in receiving their dues.
Al Wali Group will do studies on the “Million Housing Units” project before participating in it. The companies which requested to participate in establishing the project have not received the tranches allocated for the establishment yet. Therefore, Al Wali will not decide to participate in the project, until being sure that there will be no financial problems, he added.
