The Central Development Authority (CDA) finalized the terms of reference booklet for the bidding procedures ahead of the implementation of 18,100 residential units, as part of the One Million Unit project, reported Al Borsa News.

The tenders are for projects in five border governorates and are worth EGP 2.7 billion in investments. The 18,100 units are to be built over 754 buildings, to be financed through Social Housing Fund, with each unit costing EGP 150,000.

The authority has decided to offer the implementation of the units in a public tender next month, following the provision of funds from the Ministry of Housing, Utilities, and Urban Communities, said Mohamed Zein El-Abeden,  deputy head of the CDA.

The new tenders will offered will be for construction of residential buildings and the delivery of in-house utilities, including water and sanitation, roads, electricity, and gas infrastructure.