Misr Al Gadida Company Announces the Completion of Contracting for the Development of the Mansoura Land
Dr. Eng./ Sameh El-Sayed, CEO of Misr Al-Gadida Company, announced the completion of contracting
procedures with Al-Safi and Jebal companies for participation in the development of a land plot
owned by the company, located in the East District of Mansoura City, with an area of approximately
52,000 square meters for mixed-use (residential, commercial, and administrative) development.
The consortium was selected as it achieved the highest evaluation in terms of financial capability, financial solvency, and technical efficiency, in accordance with the recommendations of the competent technical and financial committees.
The total revenues of the partnership project are estimated at about 10 billion Egyptian pounds. This contract reflects Misr Al Gadida Company's keenness to select the best strategic partners capable of maximizing the return on the company's assets, and ensuring implementation according to the highest technical and financial standards, which contributes to achieving sustainable cash flows and maximizing shareholders' rights. The project also comes within the company's future plan to enhance its investment presence outside Cairo's borders, and support its strategy for thoughtful expansion and development of its land portfolio in a way that achieves long-term added value in order to achieve the maximizing financial returns.
The consortium was selected as it achieved the highest evaluation in terms of financial capability, financial solvency, and technical efficiency, in accordance with the recommendations of the competent technical and financial committees.
The total revenues of the partnership project are estimated at about 10 billion Egyptian pounds. This contract reflects Misr Al Gadida Company's keenness to select the best strategic partners capable of maximizing the return on the company's assets, and ensuring implementation according to the highest technical and financial standards, which contributes to achieving sustainable cash flows and maximizing shareholders' rights. The project also comes within the company's future plan to enhance its investment presence outside Cairo's borders, and support its strategy for thoughtful expansion and development of its land portfolio in a way that achieves long-term added value in order to achieve the maximizing financial returns.
