11 September 2019
Egyptian developer Arkan Constructions and Real Estate is planning to build a 15-acre mixed-use project in the 6th of October City, the company Chairman told Thomson Reuters Projects.
Emad Issa said the company was negotiating with the New Urban Communities Authority (NUCA) to acquire a plot of land for the project, which would include 30 residential buildings, a mall, a school and other facilities.
Issa declined to disclose project costs or construction timeline for the project but said the company is currently designing a 100-unit commercial project in Sheikh Zayed City, adding that construction is scheduled to start next year.
He also disclosed that the company intends to build 10 Canadian schools in Egypt over the next five years, noting that the first of these schools, located in the 6th of October city, would be developed at a cost of 200 million Egyptian pounds ($12 million).
Issa said negotiations are also underway to set up Canadian schools in Gharbia governorate and New Cairo.
1 US Dollar = 16.46 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
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