Cairo: Qatari Diar Egypt has announced the award of a significant construction package for the CityGate New Cairo project to Concrete Plus, a prominent construction and engineering company in Egypt. The total value of this project stands at EGP 3.5 billion.
According to Qatar News Agency, this decision aligns with Qatari Diar's strategy to expedite construction on one of Egypt's largest integrated urban developments, showcasing the company's commitment to international quality standards in planning and execution.
Sheikh Hamad bin Talal Al-Thani, CEO of Qatari Diar, emphasized that CityGate exemplifies Qatari Diar's vision of developing fully integrated urban communities managed by Egyptian expertise. The awarded contract, valued at EGP 3.5 billion, includes constructing 300 residential units and executing infrastructure works over a 30-month period. This initiative is part of Qatari Diar Egypt's plan to accelerate delivery, enhance project value, and meet the demand for modern, sustainable communities. The company has achieved sales exceeding USD 1 billion and direct investments surpassing USD 7 billion, underscoring its long-term commitment to the Egyptian market.
Eng. Tarek Youssef, Founder and CEO of Concrete Plus, expressed that winning the CityGate project reflects the trust placed in Concrete Plus by major real estate developers. The project highlights Concrete Plus's experience in delivering integrated residential developments to the highest technical and engineering standards, adhering to quality benchmarks and delivery schedules.
CityGate, a strategic project in Qatari Diar's Egyptian portfolio, aims to develop integrated and sustainable urban communities. Spanning approximately 8.5 million square meters, it strategically links New Cairo with the New Administrative Capital, with total investments projected to exceed USD 12 billion. The development will feature business districts, golf courses, educational, healthcare, sports facilities, and extensive green spaces, generating over 200,000 direct and indirect job opportunities throughout its phases.