Egyptian developer Mabany Edris announced on Wednesday that it has awarded the construction supervision services contract for its 6 billion Egyptian pounds ($194 million) Koun project in Ras El-Hikma to Engineering Consultancy Bureau (ECB).

The contract was signed by Mohamed Edris, Chairman of Mabany Edris and Mohamed Abdelghany, Chairman of ECB, according to a joint press statement.

Koun, located at kilometre 201 on the Alexandria-Matrouh road, covers an area of 447.6 square metres. It comprises of water-front residential units including twin houses, townhouses, chalets, duplexes, and independent units.

Idris said construction of the project commenced in the summer season, and first phase is planned to be delivered within four years.

The company allocated EGP300 million ($9.7 million) for Koun's construction works during 2023, he added.

(1 US dollar = 30.90 Egyptian pounds)

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)


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