Al-Nasr Housing and Development Company, one of the companies of the Holding Company for Construction and Development affiliated to the Ministry of Public Business Sector, signed a partnership contract with the Saudi Scoop Engineering Company, to develop the Mokattam Corniche and terraces.
Engineer Mohamed Abdel Maqsoud , Chairman of the Board of Directors of Al-Nasr Housing and Development Company, affiliated to the Holding Company for Construction and Development of the Ministry of Public Sector, said that the project to develop the Mokattam Corniche came at the top of priorities since he assumed the presidency of the company in 2020.
He added, in a speech during the signing ceremony, that the company “has a treasure. We proposed the project and two bids were submitted for the project, and we chose the Saudi Scope Company and reached a balanced contract between the two parties.”
He continued: We agreed to deal with the project professionally, and we studied the soil, the feasibility study, and all the details of the project, which consists of 3 parts.
The head of Al-Nasr Housing and Development Company stated that an international consulting office will be selected to design the project, a process that is expected to take a year, indicating that the project implementation period will be 5 years, at a cost of 30 billion pounds.
The project is expected to generate revenues of EGP 60 billion.
For his part, Alaa Khader, President of Scoop Real Estate Company – one of the companies of Al-Suwailem Holding Group – said that he expects a high demand for above-average and luxury housing and administrative real estate, so we were keen that the project be a mixture between modernity and preserving the nature of the place, we will build a smart city.
He said that the Mokattam Corniche project is an integrated residential, administrative, service, commercial and administrative project.
He explained that the project covers an area of 1.750 million square meters, divided into 1.2 million square meters for residential units with a decision of 6,000 housing units, 200,000 commercial square meters, 100,000 administrative, and 200,000 recreational square meters, and the green area is 60% of the total area of the project.