Real estate investment partnership contracts

Egyptian real estate market is the second phase of partnership projects signed new contracts with real estate development companies.

The Urban Communities Authority in Egypt ends this month with the signing of contracts for the second phase of partnership projects with the private sector.

The Commission signed 3 contracts out of a total of 6 contracts with SODIC, Al Ahli Real Estate Development Company and Arkan Palm Real Estate Investment Company for three projects with an area of ​​849 acres in the cities of Sheikh Zayed and 6 October with expected investments of 93.5 billion pounds, providing over 163,000 jobs Directly and indirectly, according to the newspaper "stock market" Egyptian.

"Urban communities" are negotiating with Arab Real Estate Development Company (ARCO) and Iwan Real Estate Development Company to sign contracts for three projects in the cities of New Cairo and Sheikh Zayed, Ministry of Housing sources said.

She added that the negotiations are in their final stages and agreed on the financial and in-kind shares of the Authority and will obtain the approvals of companies on the final version of the contract during the month.

During the second phase of the partnership projects, 21 real estate investment companies submitted 36 bids to compete for 12 plots of land in the cities of New Cairo, Sheikh Zayed and 6th of October.

The Arab Real Estate Development Company (ARCO) has won the development of an integrated 410-acre urban project in Sheikh Zayed City. Palm Al-Alamein, a joint venture of Palm Hills and Arkan Real Estate Investment Company, has also developed a mixed-use commercial, administrative, hotel, medical and entertainment project. "With the plot of" Zayed Spark "with an area of ​​205 acres in" Zayed ".

West Ewan Real Estate Development Company has developed a 1,000-acre integrated development project in the Sheikh Zayed City extension. SODIC has successfully developed a fully integrated 500-acre construction project along Sheikh Zayed City.

AlAhli Real Estate Development Company has successfully developed a fully integrated urban development project on 144 acres in the 6th of October City. East Ewan Real Estate Investment Company is developing an integrated urban tourism project with an area of ​​104 acres in the new city of Cairo.

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