PROJECTS: Egypt's New City Developments to start delivery of Eco West project in 2024

Company to launch Phase 2 of Qena Gardens in Upper Egypt in Q1 2022.

  
Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

REUTERS/Mohamed Abd El Ghany

Egypt's New City Developments (NCD) will deliver Phase 1 of its 2.5 billion Egyptian pound ($16 million) Eco West mixed-use project, located in 6th of October City, in 2024, the company CEO said. 

Ramy Youssef told Zawya Projects that NCD has signed a 270- million-pound ($1.7 million) contract with Saudi Al Hazek Construction to start Phase 1 construction works. 

El Hazek is currently involved in the construction of New Administrative Capital’s Fairmont Hotel with CSCEC.  

Phase 1 comprises of 14 buildings with 530 residential units. 

Youssef said Lebanon-based Rachid Karam Architects has designed the development which will feature modern, smart spaces inspired by European and Japanese architecture. 

"We believe Eco West would help address the middle-class housing gap challenge in Egypt," said Youssef. “As the middle class represents 35 percent of the population, there is a high need for such projects at present.” 

The four-phase project will comprise of 3,804 residential, commercial and office units. 

NCD currently holds a land bank of 825 acres in 6th of October out of which 120 acres are being developed for Eco West. The company is working on the launch of Phase 2 of Qena Gardens, the first gated community in Upper Egypt’s Qena, in the first quarter of 2022. 

(1 US Dollar = 15.71 Egyptian Pounds) 

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

(anoop.menon@refinitiv.com

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