Gates Developments has entered into a contract with DMA for Engineering Consultancy as the engineering designer for its new project located in the Ras El Hekma area on the North Coast of Egypt, Invest-Gate reports.

The project spans an area of 206 acres and aims to offer a unique real estate product, leveraging DMA’s extensive and distinguished expertise.

Gates Developments secured the land for the North Coast project through partnerships with Pibic for Investments and Development, the landowner.

The signing ceremony was attended by Ahmed Abu Al-Nazar, Chairman of Pibic for Investments and Development; Adham Abu Al-Nazar, CEO of Pibic for Investments and Development; as well as numerous officials from both companies.

This collaboration demonstrates Gates Developments’ commitment to achieving leadership in the real estate development sector and providing exceptional investment opportunities.

Hassan Nasr, CEO of Gates Developments, expressed his utmost satisfaction with the signing of the contracts. He highlighted the prime location of the land at Kilo 200 in Ras El Hekma, and the project’s expected total building area of around 350,000 sqm. The estimated investment for the project amounts to approximately EGP 40 bn. The project’s launch is scheduled for the late second quarter of 2024.