Cairo: Scope Real Estate Company, a subsidiary of the Saudi Al-Swailem Holding Group, signed a contract to manage the Mokattam Corniche development project with Hill International.
Engineer Alaa Khedr, Managing Director of Scope Real Estate Company, expressed his pleasure at starting contracts in the Mokattam Corniche development project, by building strategic partnerships with a group of international companies, the most important of which is Hill International, indicating that this partnership comes as a continuation of the company’s strategy in exchanging and localizing knowledge at different levels. High with international companies and houses of expertise that represent an added value to the project.
“Khider” added that the Mokattam Corniche development project is distinguished in terms of location, view and strategy, in line with the progressive vision of the New Republic. It is the closest point to the vital centers in Cairo and has a unique view of the Giza Pyramids, Salah El-Din Citadel, Fatimid Cairo, and the Museum of Civilizations. The cost of the project is about 32 billion pounds, and its market value is expected to reach about 61 billion pounds.
In this regard; Eng. Walid Abdel-Fattah, Senior Vice President of Hill International for Project Management and Executive Director for Africa, said that this cooperation comes within the company’s expansion strategy in the Egyptian market, adding that the company has a great history in project management that spans more than 10,000 projects.
He pointed out that the Egyptian state is witnessing the return of tourism projects and programs to the lost momentum since the period of the spread of the Corona pandemic, which is evident in the Mokattam Corniche development project, stressing that Egypt will remain a pioneer in attracting tourists to its landmarks, landscapes, and ancient civilization.
Abdel Fattah added that this project is historic for the Mokattam region, and represents harmony between the public and private sectors, which encourages long-term investment that will change the region for decades to come.
It is noteworthy that the mixed-use project includes two main components, the first is the Mokattam Corniche and the terraces as a commercial and hotel entertainment area with an area of 1.3 million square meters, and the second component with an area of 750 thousand square meters in the Central Plateau (a fully serviced residential compound), which contains educational, sports and entertainment activities at international levels that meet the aspirations of its residents. A partnership contract was previously signed between Scoop Real Estate and Al-Nasr Housing and Development Company, one of the Holding Companies for Construction and Development affiliated to the Ministry of Public Business Sector.