Cairo – Mubasher: Emaar Misr for Development signed a contract with Arabtec Construction, a subsidiary of Arabtec Holding, to build an urban community ‘Greek Village’ with a total value of EGP 1.608 billion ($99.7 million). 

The project includes the establishment of 42 townhouses, 18 residential buildings, and seven bungalows in Marassi in the North Coast, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Construction in the project is expected to start immediately and last for 36 months, the statement showed.

It is noteworthy that during the first nine months of 2019, Emaar Misr logged a net profit of EGP 628.99 million, compared to EGP 1.76 billion in the corresponding period of 2018, including minority shareholders’ rights