Sorouh Developments has announced its contract with Construction Hills to undertake construction work for the Entrada Avenue project in the New Administrative Capital (NAC) at a value of EGP 650 mn, Invest-Gate reports.
The contract was signed by Walaa Alami, Chairman of Sorouh Developments, and Mostafa Aboul Fotouh, CEO and Managing Director of Construction Hills, in the presence of officials from both companies.
Alami expressed the company’s strong commitment to fulfill its contracts and deliver projects according to specified timelines, announced specifications, and the company’s renowned quality. He emphasized the significance of this new contract with a leading company in the contracting sector.
The contracted works for the project are planned to be completed within 30 months from the date of signing. Despite market challenges, the company remains dedicated to fulfilling its obligations and working diligently.
The Entrada Avenue project is an administrative and medical commercial mall located in the prestigious R7 district of the NAC. It is situated near several international universities and provides a view of the Expo City exhibition city in the NAC.
Alami highlighted that this new contract brings the total value of contracts concluded within the past two months to EGP 900 mn. In September, the company also contracted with Dar for Construction & Trading (DETAC) to commence construction work for the Cascadia phase within the Entrada project, with an initial contract value exceeding EGP 250 mn.