Dar Engineering, a design and engineering solutions provider, signed an agreement with a Gulf investor for an EGP 300 million touristic project in the North Coast, Al Borsa News reported.
The project is expected to spread over 41.5 acres in the Matrouh governorate, said Labib Farid, company’s Chairperson, according to Al Mehwar.
The new contract is part of the three contracts recently signed by Dar Engineering with investors to design and supervise the execution of housing projects and tourist project in the govern orates of Matrouh and Alexandria.
According to Labib, the company completed approximately 85% of the project’s design, with the projection of offering construction tenders for the implementation in September.
The expected completion of the whole project is in 2020, to be developed over three phases. Dar Engineering is currently overseeing a touristic project in Hurghada and a commercial mall in Obour City.