Tatweer Misr awards construction company Kharafi National EGP 1.5 bn construction, facility management, and fabrication services provision contract in IL Monte Galala project in Ain Sokhna, Invest-Gate reports.
The agreement aims to accelerate the pace of construction and delivery throughout the project’s stages.
Under the agreement, Kharafi National will execute the construction of the six phases of the project.
Moreover, the zone awarded to Kharafi includes the Phia project located on 16 acres. Phia comprises 504 units and resembles Greek’s Santorini Island.
The agreement also covers the 13.5-acre Sistiana project which comprises 58 single-family homes, villas, and twin houses.
“The Company’s executive management chose to award the largest contract in the history of Tatweer Misr to Kharafi National, in alignment with our business objective to increase the number of delivered units from 1,500 to 2,000 units annually,” President and CEO of Tatweer Misr, Ahmed Shalaby, said.
“The cooperation with Tatweer Misr opens new horizons for us and is an added value to the two companies, which will definitely reflect on the progress and success of the project,” Executive Manager of Kharafi National,” Elia Saber notes.
Located on an area of 2.2 mn sqm on the Galala Mountains in Ain Sokhna, IL Monte Galala encompasses 10,000 units, including hotel rooms and services apartments.