Sadat City is offering 1,750 social housing units out of a total of 5,000 units that were offered last year on contractors, reported Al Borsa.
The total cost for the 1,750 units amounted EGP 236.2 million. The remaining 3,250 apartments are expected to be finalized in the first half of next year.
A total of 10 contracting companies were previously assigned to implement the units in Sadat City at a total cost of EGP 675 million, according to Mohamed Ashour, Head of the Sadat City Authority.
Some of the contractors working on the project include Hassan Allam Holding, Al Nasr for Building and Developments (EGYCO), Egyptian General Contracting Company, El Watania Group for Awqaf Investments, El Taaweneya Association for Housing and Construction, and Al Madaen Misr.
The total budget that was set for Sadat City amounts to a total of EGP 1.1 billion, registering a EGP 500 million increase compared to last year. This surplus will reportedly target social housing projects and basic building foundations, noted Ashour.
The Sadat City Authority will also be implementing sewage projects, Ashour said, noting that 90% of the water sanitation and electricity project in the city are being executed by the Arab Contractors Company.