Egyptian real estate developer Hyde Park Properties for Development (HPD) signs an agreement worth more than EGP 1.5 bn (USD 84.4 mn) with five local construction firms for its new project in New Cairo, Invest-Gate reports.

The five firms that signed the Hyde Park contract are Hassan Allam, Misr Engineering Development Company (MEDCOM), Modern Construction Company (MCC), Hirmas, and Concrete Plus for Engineering and Construction.

Marwan Ziwar, Chief Commercial Officer at Hyde Park, says that his company plans to deliver 300 housing units in Hyde Park New Cairo.

“We have launched another project in North Coast, with an investment cost estimated at EGP 12.5 bn, over 225 feddans,” Ziwar further states.