| 21 Mar 2010 |
|
DAMAC Properties Egypt Awards contract to JET, Egyptian Eng. & Trade Company for "Hyde Park- New Cairo" Attached Villas
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Padma Shivdasan [padma@batespangulf.com]
Luxury lifestyle developers DAMAC PropertiesDAMAC Properties
today announced that the contractor JET, Egyptian Eng. & Trade Company have been awarded the construction contract for the attached villas located in Hyde Park, New Cairo. The contractor will be responsible for constructing 88 Buildings, 320 Villas for the attached villas (town Houses) in its New Cairo's project "Hyde Park".DAMAC PropertiesDAMAC Properties issued this tender last November 2009, and specified to potential contracting companies the importance of adherence to strict construction deadlines. It was also important that the contracting companies operate according to the highest international building and construction standards. Nine major Egyptian contracting companies joined in the bidding and DAMACDAMAC selected the best tender according to a number of criteria, including quality of construction and commitment to the projects' standards and characteristics.
Hyde Park is a residential project consisting of exclusive villa development concepts, with unique designs and architecture. DAMACDAMAC will start delivering the first units of Hyde Park by the end of 2011.
The construction firm have a long and well established history in the Egyptian market. JET, Egyptian Eng. & Trade Company started work in 1978 as an Egyptian joint venture and has an impressive list of projects to its name; including MSA University in 6 of October, Al Ahram News Paper tower, shooting Club located at the ring road, Arabella compound in new Cairo, Sama tower located at the ring road, Kattameya Residence in new Cairo and Darah Gardens compound in 6 of October city.
Mr. Alaa Ayoub, Chief Executive Officer DAMAC PropertiesDAMAC Properties
Egypt stated that DAMACDAMAC was pleased to award that contract as it was testament to good progress within the development.Mobilization and Construction work is expected to commence immediately.
For further information, please refer to www.damacproperties.com
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For more information please contact:
Niall McLoughlin,
Senior Vice President - Corporate Communications,
DAMAC
Tel: +971 4 04 3732190
Fax: 00 9714 3732335
Mobile +971 50 6531824
Email: niall.mcloughlin@damacgroup.com
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