The Saudi Egyptian Developers (SED) Company signed an EGP 232 mn strategic partnership contract with SANO Foundations and Heavy Equipment, a subsidiary of Dorra Group, to start the construction phase of the Central project in New Cairo, Invest-Gate reports.

Mohamed El-Taher, CEO of SED, stated that the company has obtained the ministerial decision on the project and that signing the new contract represents an important step towards accelerating the project implementation.

El-Taher confirmed that the excavation work has begun at the site and that these works are scheduled to take between 8 to 10 months, before the completion of other operational steps in the project based on the schedule.

The top executive added that building, construction, and pouring of concrete at the project site are scheduled to start in 2024. Furthermore, the excavation work extends over an area of 1 mn sqm, and at depths ranging from 12 to 19 m, El-Taher said.

The CEO highlighted that the EGP 17 bn-project comprises various commercial and administrative units to meet all customers’ needs, as the administrative areas range between 117- 364 sqm, as well as including well-known brands and international restaurants on an area of 20.37 acres.

Notably, Central’s designs were done by a group of prominent design companies, which are WATG, RMC, GLEEDS, ICE, and DECIPHER.