Egypt's New City Developments partners with El Hazek to provide housing solutions for Eco West

The company is investing $159mln in the mixed-use project

  
Image used for illustrative purpose. An aerial view of new housing complexes in a suburb of Cairo is pictured through the window of a plane, Egypt December 16, 2017.

Image used for illustrative purpose. An aerial view of new housing complexes in a suburb of Cairo is pictured through the window of a plane, Egypt December 16, 2017.

REUTERS/Amr Abdallah Dalsh - RC1169D2CE00
Cairo –  New City Developments (NCD) announced its partnership with El Hazek Construction to provide high-quality construction work for Eco West, located in the 6th of October City.

The partnership deal was signed by the CEO of NCD, Ramy Yousef, and the Managing Director of El Hazek Construction, Mahmoud El Hazek, during a press conference on Monday.

New City Developments is investing EGP 2.5 billion in the mixed-use Eco West project which includes four phases with a total of 3,804 units for only 20% of its built-up area, where 80% of the project is allocated for green spaces and several facilities and services, including international schools, playgrounds, shopping malls, places of worship (mosque/church), and children's areas around the buildings.

The project is expected to be delivered in 2024, while the first phase, which has 1,290 units, will be delivered in 20 months. Eco West's units are designed by the Lebanese architecture firm, Rachid Karam Architects, which makes the best use of its 80-square-metre areas.

The CEO of NCD, Ramy Yousef, said, "With the mixed-use project Eco West, we believe that the project would be a proper alternative for the middle-class housing gap challenge in 2024."

The Managing Director of El Hazek Construction, Mahmoud El Hazek, commented, “We are looking forward to collaborating with New City Developments on Eco West. NCD has a clear vision that will help address the arising supply and demand challenges in the real estate market."

NCD owns an 825 acre-land area for its projects, including 120 acres allocated for Eco West. The company is currently working to launch the second phase of its Qena Gardens project in Upper Egypt.

Source: Mubasher

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