By: Abdullah Bedeir
Cairo – Mubasher: Ora Developers has awarded EGP 5 billion worth of contracts for the development of the first phase of ZED East in New Cairo, the Chairman and CEO, Naguib Sawiris, said.
Orascom, Alrowad Group, and Redcon Construction were among the contracting companies that were awarded the contracts, the billionaire businessman said in a press conference on Tuesday.
The first phase of the project has already been marketed, Sawiris added, expecting the second phase to be launched at the upcoming Cityscape exhibition.
In January, Ora Developers launched its project in New Cairo, which is planned to be built over 400 feddans with expected investments of EGP 100 billion. The first phase of the project is expected generate sales of EGP 6 billion.
