Al Fanar Contracting, Construction, Trade, Import, and Export Company has contracted with the consortium of the Consolidated Contractors Group (CCC) and HA Construction Company (HAC) for the execution of some finishing works in Downtown New Alamein, amounting to EGP 5.5 mn, Invest-Gate reports.

Under the deal, the consortium will undertake the supply and implementation of flat (lay-on) suspended ceiling systems at the new megaproject, with costs estimated at EGP 4.6 mn, in addition to joinery/carpentry works worth more than EGP 468,720, according to the company’s recent bourse filing.

This comes alongside the allocation of EGP 377,090 for the supply and installation of plain molding cornices, Al Fanar further revealed.

Planned on an area of almost 49,000 acres, with investments of more than EGP 2 bn, New Alamein will be developed over four phases, two of which are being implemented. Phase I  is expected to accommodate 400,000 people, whereas the whole city will populate at least 3 mn people.

The city’s masterplan encompasses 14 residential districts as well as a number of industrial, logistical, commercial, and service areas, including two universities, up to 25,000 hotel rooms, 320,000-meter-square tourist strip, 16,500-meter-square recreation area, among others. A total of 15 towers are currently underway, stretching up to 41 floors and comprising nearly 4,500 units, according to a previous statement.