Egypt-based Redcon Construction Company is planning to develop 148 new villas in Mivida New Cairo Project with total cost estimated at 200 million Egyptian pounds (US$10.8 million). The Mivida Project is a flagship project for Emaar Misr, the Egyptian unit of UAE property developer Emaar. Kareem El-Shazly, Tendering Section Head – Civil Works, told Amwal Al Ghad Sunday that Mivida Project involves establishing a residential district. The company is executing infrastructure works of water, sewage, and gas networks in the residential district as well as service buildings and markets, El-Shazly clarified. The Egyptian official further said that his company is set to complete the villas and the utilisations works of the housing district within the next two years. The new villas are located on the Fifth Settlement on spaces of 35,000 square metres, El-Shazly noted. El-Shazly referred that Redcon targets delivering 100 villas in Mivida's second residential district. El-Shazly concluded that Redcon will hand over the semi-furnished villas in the second district with total cost estimated at 100 million pounds, adding that the first phase of Mivida's German School is set to be delivered within 2017.
