The New Urban Communities Authority (NUCA) awarded on November 7 an EGP 317.3 mn contract to Giza General Contracting and Real Estate Investment Company for conducting some remaining utility works in New Aswan, Invest-Gate reports.

Under the deal, the Egypt-based company will finalize phases I and II of New Aswan’s electricity and telecommunication networks within 18 months, after receiving the construction site, it confirmed in a recent bourse filing.

In early February, NUCA assigned Giza General Contracting to implement 23 buildings, comprising 552 residential units, within the third phase of the state’s social housing project, located behind Sphinx International Airport, west Cairo, according to the company’s previous statement.

To be implemented at a total value of EGP 139.1 mn, the units will be fully finished, with areas starting at 90 square meters per unit.

By the end of last January, Giza General Contracting had been required to implement 14 buildings, or around 336 residential units, with total investments of EGP 84.67 mn. This came as part of the third phase of the social housing units released behind “Ebni Betak 7” project (Build Your Home 7).