Modon Holding has launched the first tender in Ras El Hekma, with estimated investments ranging between EGP 14 and 15 billion, aimed at implementing administrative and residential developments.
The projects under discussion also include large-scale residential and urban components, amid heightened competition for a share in this flagship development, which has attracted strong interest from major contractors.
In an official statement issued in June, Egypt’s Cabinet announced the formation of a strategic alliance between the state-owned Arab Contractors and CSCEC—the world’s largest construction firm—to jointly pursue construction projects in Egypt and selected African markets.
Modon Holding has also received bids from several prominent Egyptian construction companies for the initial tender. The list of bidders includes Orascom Construction, Hassan Allam Holding, Redcon Construction, Concrete Plus, El Rowad for Modern Engineering (a subsidiary of Elsewedy Group), and Al Shafar.