Qatari Diar Egypt has awarded one of the main construction packages for its premium CityGate New Cairo project to Concrete Plus, a Egypt's leading construction and engineering companies, with the project's total value standing at EGP3.5 billion ($73.6 million).

Announcing the contract award, Qatari Diar said the scope of work includes construction of 300 residential units in addition to other infrastructure works within a 30-month period.

The project spans 8.5 million sq m area in a strategic location linking New Cairo with the New Administrative Capital, with total investments exceeding $12 billion upon completion, said the company in a statement.

It includes a comprehensive network of services and facilities such as business districts, world-class golf courses, educational, healthcare, and sports facilities, as well as extensive green spaces. 

The project is expected to generate more than 200,000 direct and indirect job opportunities throughout its various development phases, it stated. 

This contract award comes as part of Qatari Diar's strategy to accelerate construction progress on one of Egypt's largest integrated urban developments, reflecting the company's commitment to applying the highest international standards in quality, planning, and execution.

Qatari Diar CEO Sheikh Hamad bin Talal Al Thani said: “CityGate represents one of the flagship models of Qatari Diar's vision to develop fully integrated urban communities that are managed according to the highest international standards and delivered by Egyptian expertise. In line with this approach, the contract for one of the project's main construction packages has been awarded to Concrete Plus, with a total value of EGP 3.5 billion.”

“This contract forms part of Qatari Diar Egypt's strategy to accelerate delivery while ensuring the highest levels of quality, enhancing the project's investment value and meeting the growing market demand for modern and sustainable communities,” he noted.

Qatari Diar Egypt continues to strengthen its position in Egypt's real estate sector, having achieved sales exceeding $1 billion, alongside direct investments surpassing USD 7 billion—underscoring its long-term commitment to the Egyptian market and its strategic importance within Qatari Diar's global portfolio."

Founder and CEO of Concrete Plus Eng. Tarek Youssef said: "Winning the CityGate project reflects the strong confidence placed in Concrete Plus by major real estate developers and highlights our extensive experience in delivering integrated residential developments in accordance with the highest technical and engineering standards, while adhering to agreed quality benchmarks and delivery schedules."

CityGate is one of the most prominent strategic projects within Qatari Diar's Egyptian portfolio, embodying the company's vision for developing integrated and sustainable urban communities based on long-term planning and quality of life.-TradeArabia News Service