Arkan Palm for Real Estate Investment Company, a subsidiary of Palm Hills Developments, and Gensler, a global design and architecture firm, signed on May 22 a contract to develop designs and s detailed masterplan of the former’s 205-acre project in Sheikh Zayed, west Cairo, Invest-Gate reports.

CEO of Arkan Palm Mamdouh Badr El Din said in a press statement Gensler will finish the designs and masterplan of the project within 20 weeks. Afterward, it will apply for obtaining the project’s ministerial approval and necessary licenses to begin construction immediately.

In late March, Arkan Palm signed an agreement with the New Urban Communities Authority (NUCA) for the construction of an integrated commercial, administrative, medical, and recreational complex.

Overlooking 26th of July Axis, the new project is being developed with investments worth EGP 59 bn and is expected to create 57,000 job opportunities.