Four real estate companies were deemed eligible by the Development Agency of New Fayoum City to construct a new hypermarket on a 10,000 square meter land plot, Al Borsa reported on Thursday.
The winning company is expected to be announced in December. The total cost for the project is EGP 20 mn.
Additional land plots are expected to be offered within the city next year, including one for the construction of a gas station, according to Akhbarak.
The Ministry of Housing, Utilities, and Urban Communities had previously assigned the land allocated to build a hypermarket to Al Bostany for Real Estate Development, a division of the Hyper One brand. Al Bostany gave up the lands for unknown reasons, prompting the New Fayoum authorities to put the land on offer once again.