Qatari Diar begins building of new stage of CityGate New Cairo
Date
2/14/2023 3:48:29 AM
(MENAFN) Qatari Diar, a global Real estate development company, has recently awarded the new phase of CityGate New Cairo to Consolidated Contractors Company (CCC), one of the leading contracting companies in the world. The agreement was signed between Bawabat Al-Sharq New Cairo Real Estate Investment, a subsidiary of Qatari Diar Egypt, and CCC. The project will comprise two buildings - Opal 3D-A and Garnet 3D-B - and will be constructed in CityGate New Cairo, a self-sustaining city situated in the heart of New Cairo, which is just a 30-minute drive away from the Cairo International Airport.
According to Eng. Abdullah bin Hamad Al Attiyah, the CEO of Qatari Diar Real Estate Investment Company, this new phase of CityGate New Cairo is an essential milestone for Qatari Diar in Egypt, as it is anticipated to be worth more than USD 12 billion once completed. In his speech during the inauguration ceremony, Al Attiyah expressed his excitement for the renewed partnership with CCC, as the company has already shown notable success in the previous phases of the project.
The new phase of CityGate New Cairo is part of Qatari Diar's strategy in the Egyptian market to implement large-scale projects with international standards while integrating them with a green and sustainable approach. It aims to support the Egyptian economy and the real estate sector, while also contributing to the local job market by creating numerous job opportunities throughout the construction phases and after they are completed.
Eng. Jamal Bahlawan, CEO of Consolidated Contractors International, expressed his pleasure in continuing their successful partnership with Qatari Diar in Egypt and across the Arab world. As the main contractor of the first phase of CityGate New Cairo, which involved the construction of 430 units, CCC is committed to delivering the highest quality in line with what they have previously achieved.
Sheikh Hamad Bin Talal Al Thani, Chief Development & Project Delivery Officer (Asia & Africa) at Qatari Diar, also emphasized the significance of the new phase of CityGate New Cairo. The project will cover an area of 357,125 square meters and will comprise the construction of 422 residential units, including villas, quattros, and twin houses. It is also expected to create over 2,500 job opportunities, which will positively impact the Egyptian job market and economy.
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