City East Company for tourism projects and urban developments won the bidding for a 17-acre tender in the Abu Khalifa district in Ismailia Governorate for EGP 42.5 million, reported Al Borsa News.

The bid is the first public offering for land through the one-stop shop process, in collaboration with the Ministry of Investment, said Doaa Abdel Moneam, Head of the Housing Directorate in Ismailia

A total of 10 real estate companies competed for the 17 acre land, including Abraj El-Ismailia, Moga Contracting and Investment, and Al Ghad for Trade and Investment.

The directorate has offered three plots of land, with areas of 17, 40, and 45 acres, but the 17-acre plot received the most bids, added Abdel Moneam.