Land Offering for Residential Development in Fayoum – Posponed

Wednesday, 28th September 2016

The Fayoum Housing Directorate has postponed the offering of 158,000 square meters earmarked for residential and service projects to next year, when all facilities on site have been constructed, reported Al Borsa.

Currently, only 60% of the facilities have been built on site, according to Ali Zain Al-Abdin, Representative of the Housing Ministry in Fayoum.

The governorate is also considering revoking the construction contract from Al Sadeek Contractors and offering it to other contractors, as the company violated its contract with  the governorate, since facilities were scheduled to be completed last month.

The facilities are expected to include a sewage station and a water treatment plant in the industrial area in Kom Osheem, and the contract will be handed to new contractors next month, added Zain Al-Abdin.

Al Sadeek Contractors preciously received EGP 41.5 million to commence work on building the project’s facilities.

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