Egyptian developer TLD (The Land Developers) has awarded a 210 million Egyptian pound ($8.6 million) construction contract to ASASS Construction for its Armonia New Capital development.

The 42-acre development, located in the New Administrative Capital, is being developed at a total investment of 3 billion pounds ($122 million), and includes 1,750 residential units.

Construction began in July 2022 and Phase 1 is expected to be delivered in June 2023.

(1 US Dollar = 24.55 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)