Cairo Contracting and Real Estate Investment Company says it is developing two residential flagships, owned by state-run Maadi for Development and Reconstruction, in El Shorouk City and Maadi area. Cairo Contracting is an affiliate to Egyptian Holding Company for Construction and Development (HCCD), which is an agency under Ministry of Housing. The two projects' total cost is worth 260 million Egyptian pounds ($14.5 million), Cairo Contracting's chairman and managing director Nashaat Mohamed Morsy said on Monday. As for the first project, it will include eight residential buildings in Maadi View flagship in El Shorouk City, at a cost worth 120 million pounds, Morsy said. "The second project is to comprise other five buildings in Waadi Degla flagship in Maadi area, at a cost of 140 million pounds," he said, adding that his company is seeking to increase the works' accomplishment rates. Cairo Contracting is looking to win a new residential project in Fustat City, in Old Cairo in favour of Maadi Co., Morsy said, adding that the project will encompass a number of major towers.
