Egypt’s Al Ahly for Real Estate Development- Sabbour says it plans to carry out the construction works of the first phase of The City of Odyssia Compound in New Cairo’s Mostakbal City within the next three months.
The company’s chairman Hussein Sabbour said Thursday the project, which is with investment cost of 35 billion Egyptian pounds ($1.9 billion), will be executed in partnership with El Mostakbal for Urban Development over 600 feddans.
Al Ahly is responsible for implementing the project’s engineering designs and selling the units, while El Mostakbal is set to attain a percentage of sales for providing of land plot, Sabbour further told Amwal Al Ghad.
The Egyptian official added that Al Ahly has mandated The City of Odyssia’s designs to one of the architectural offices that is specialised in engineering consultancies and designs in the United States.
“The City of Odyssia is set to be developed in three phases within eight years,” Sabbour referred.
