Cairo – Mubasher: Construction and Design (Constec) has signed an EGP 70 million contract with Egyptian Centers for Real Estate Development Co, owned by Saudi-based Fawaz Alhokair Group.

The deal covers implementing the first phase of Egyptian Centers’ first housing project in the North African nation near Mall of Arabia in 6th of October city, Constec’s managing director Ashraf Abdel Hakam said in a statement on Sunday, giving no further details about the project. 

The company is planning to complete construction work of the first phase, spanning 32,000 metres and including six multi-storey residential buildings, within 12 months, he highlighted.

Abdel Hakam added that Constec has recently contracted with a number of major real estate firms to implement units of Hyde Park project in New Cairo.