PROJECTS: Egypt's New City Developments to tender its $159mln Ecowest project by May

The mixed-use project is located in 6th of October City

  
Image used for representational purposes only

Image used for representational purposes only

Getty Images/Tinpixels/getty images
Egyptian developer NewCity Developments will tender its 2.5 billion Egyptian pounds ($159 million) Ecowest mixed-use project in the 6th of October City by May, the company's CEO said.
 
Ramy Youssef told Zawya Projects the main tender for the 120-acre development would be issued in two months.
 
He said the project includes 3,800 residential units housed in 158 buildings, a 5,600-square metre commercial hub, an 18-acre sports club, and leisure facilities.
 
He added that Ecowest would be completed in four phases over four years.
 
In a related press statement, the company had announced that development would start in the second half of 2021.
 
Youssef said the project was designed by Rachid Karam Architects (RKA).
 
He also disclosed that the company would launch the second phase of its ongoing 200-acre Qena Gardens project in the Qena governorate in 2021. In the first phase, the company had developed 30 acres.  
 
New City Developments will invest 250 million pounds ($16 million) in Ecowest and Qena Gardens projects during 2021, Youssef concluded.
 
(1 US Dollar = 15.68 Egyptian Pounds)
 
(Reporting by Eman Hamed; Editing by Anoop Menon)

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