A statement by Qatari Diar said the contract covers the
construction of 300 residential units, in addition to infrastructure works. The
statement noted that the total contract value stands at EGP 3.5 billion. The
statement added that the works will be completed over a 30 month period in line
with a clear and precise timeline.
The statement added that Qatari Diar Egypt has exceeded USD
1 billion in sales. The statement also confirmed that the company’s direct
investments have surpassed USD 7 billion. The statement stressed Qatari Diar
Egypt’s commitment to delivering the project in accordance with the approved
schedules.
The City Gate project extends over an area of approximately
8.5 million square meters at a location linking New Cairo with the New
Administrative Capital. The City Gate project is expected to attract total
investments exceeding USD 12 billion upon completion. The City Gate project
includes an integrated network of services and facilities, such as business
districts, world class golf courses, educational, healthcare and sports
facilities, as well as extensive green spaces. The City Gate project is
expected to generate more than 200,000 direct and indirect job opportunities
across its various development phases.