Egyptian developer Sorouh Developments announced on Wednesday that it has awarded the construction contract worth more than 500-million Egyptian pounds ($32 million) for Phase 1 residences of the 10 billion pounds ($635 million) Entrada mixed-use project in the New Administrative Capital.

The construction contract was split between Redcon Spain and DETAC after a three-month long competitive bidding phase involving 12 contractors, the developer said in a press statement.

Hany El Bendary, Chairman of Sorouh Developments said in the statement that the company will award another construction contract of similar value within this year.

Phase 1 includes 300 residential units, according to Refinitiv Projects database.

Entrada New Capital includes 3,000 residential units and the 29,000-square metre Entrada Avenue strip mall that extends 700 metres, according to the press statement.

It noted that Entrada was designed by Spanish architecture firm L35 and local firm EHAF Consulting Engineers.

(1 US Dollar = 15.78 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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