Egypt’s real estate developer Capital Group Properties (CGP) has awarded an EGP 1.5 bn contract to Gama Construction for the execution of “Smart Village East Business Park,” located west Cairo, Invest-Gate reports.

Under the terms of the turnkey agreement, Gama Construction will kick off construction works on nine administrative buildings and three-story underground parking by year-end. The engineering and construction services are set to include civil, electromechanical, and finishing works, according to the company’s press release on October 2.

Spanning across 100,000 square meters within Alburouj compound on Cairo-Ismailia Desert Road, Smart Village East will mark a new fully-fledged business hub for innovative companies aspiring to establish head offices in east Cairo.

“We are delighted to announce our collaboration with CGP to carry out the Smart Village East project. Over the last couple of years, we have succeeded in positioning ourselves as a leading general contractor and we achieved several breakthroughs through significantly expanding our portfolio and forged long-term relationship with our clients, as well as expanding our scope of work in new sectors such as the renewable energy,” Gama Construction CEO Salah Ghobrial was quoted as saying.

The execution of Alburouj’s business park will strengthen Gama Construction’s diversified portfolio that covers a wide range of residential, industrial, and infrastructure developments, read the statement.

On the macro level, the construction company, which is an active member of Triangle Group, handles the construction and execution works of many national megaprojects, including the New Administrative Capital (NAC), the largest cement complex in Beni Suef, the Technological Park, the Light Rail Transit, in addition to six power plants in Aswan’s Benban Solar Park.