Qatari Diar, in collaboration with Consolidated Contractors Company (CCC), starts construction of new phase of CityGate New Cairo with total investments of EGP 1.75 bn, Invest-Gate reports.
This agreement inaugurates the construction of Opal 3D-A and Garnet 3D-B at CityGate New Cairo, a self-sustaining city in the heart of New Cairo – located 30 minutes away from Cairo International Airport.
Abdullah bin Hamad Al-Attiyah, Chief Executive Officer of Qatari Diar Real Estate Investment Company, comments: “Implementing the new phase of CityGate New Cairo marks an important milestone for Qatari Diar in Egypt as the project will value over USD 12 Bn once completed. Today, we are pleased to announce that our valued partner CCC will be administrating the new phase of CityGate New Cairo, in the wake of their notable success in the project’s first phase.”
Al-Attiyah adds that the new phase falls in line with the company’s strategy in the Egyptian market, as the company is focusing on implementing large-scale projects with the highest international standards while integrating them with a green and sustainable approach to support the Egyptian economy as well as the real estate sector.
In addition, the company’s projects contribute to the local job market with numerous job opportunities throughout the construction phases and after they’re completed.
For his part, Jamal Bahlawan, CEO of CCC, says: “It is with great pleasure that we continue our successful partnership with Qatari Diar in Egypt and across the Arab world with the construction of the new phase. As the main contractor of the first phase of CityGate New Cairo, encompassing the construction of 430 units, we are committed to deliver the highest quality in line with what we have priorly achieved.”
It is worth noting that the new phase of Citygate New Cairo extends over 357,125 sqm and comprises the construction of 422 residential units of various villas, quattros and twin houses.
The project also creates over 2500 job opportunities, which endorses our strategy by establishing an enduringly positive impact on the Egyptian job market as well as the economy.
