Arabtec asks firms to register for Egypt project deals
Dubai, June 2, 2014
UAE-based Arabtec Holding has invited Egyptian and UAE companies to pre-register for contracts in its one million housing units project in Egypt.
The housing project was unveiled this year as a partnership between Arabtec and the Egyptian Armed Forces to give millions of Egyptians access to decent housing at affordable prices across 13 locations in the country, said a statement.
It is the biggest of its kind in the region, with an overall development value of Dh146 billion ($40 billion), it said.
The project, which will be implemented in phases, will include public amenities such as schools, hospitals, parks and places of worship. The final delivery is scheduled for 2020.
Hasan Ismaik, managing director and CEO of Arabtec, said all Egyptian and UAE contracting, engineering and construction companies who are interested in taking part in the project, which is being handled by Arabtec’s subsidiary, Arabtec Egypt for Property Development, are required to pre-register.
He confirmed that Egyptian and UAE firms would be given priority in this project.
“We will also benefit from the outstanding expertise of professionals from both countries that will come together in implementing this huge project,” he said.
The company is committed to employ a maximum number of Egyptian workforce and more than 200 Egyptian contractors in the project, he added.
It is currently in the design phase and the construction work on phase one in Al-Obour city in Cairo, is due to begin during the third quarter of this year.
Ismaik recently announced that Arabtec was interested in building a new airport in the 6th of October City, and confirmed that it had the necessary support from the Egyptian leadership.
“We are interested in building airports and other infrastructure projects in Egypt, including power and railways. By ‘we’, I am not referring to Arabtec alone. There are major international firms who are interested in working with us,” he added. - TradeArabia News Service