Egypt’s mixed-use developer Marakez has awarded Hassan Allam Construction, a subsidiary of Hassan Allam Holding (HAH), the construction work of AEON Towers in West Cairo, Invest-Gate reports.
Marakez CEO Basil Ramzy said, in a statement on April 23, “AEON Towers, our 72-meter luxury towers located within AEON in the heart of 6th of October are the first of their kind to be developed in any of Cairo’s new urban communities.” He added, “The complexity of the technical systems and the demands of the luxury amenities of the project required a particularly capable and experienced contractor to help bring the towers to reality; we are pleased to have reached terms with Hassan Allam Construction to be that partner.”
“As a recognized industry leader, it is our pleasure to be awarded the construction of AEON towers, a project that includes innovative concepts and iconic homes that set a new standard for contemporary living in Egypt,” Hassan Allam, CEO of Hassan Allam Holding, said.
With a total investment of EGP 2.2 bn, AEON will feature West Cairo’s AEON Towers, comprised of three 72-meter (or 20-floor) high-end residential buildings built over a total built-up area of approximately 66,500 square meters, according to the statement. All towers will be constructed above a two-story underground parking garage.
Marakez revealed in the statement that the delivery of the first tower is expected in 2022.
Located southeast of Mall of Arabia, AEON will include a total of 401 units, offering a wide variety of designs, with studios, apartments ranging from one to four bedrooms. It also comprises penthouse duplexes with unmatched views of the city, ranging in size from 85 to 665 square meters.