Saudi Egyptian Developers Pens EGP 382 Mn Contract with Kuwait’s Al-Kharafi Group
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Wednesday, 15th February 2023
Saudi Egyptian Developers Pens EGP 382 Mn Contract with Kuwait’s Al-Kharafi Group
Saudi Egyptian Developers (SED) enters into a contract with the Kuwaiti Al-Kharafi Group to carry out infrastructure works for the Bleu Vert project in with a value of EGP 382 mn.
Situated on 70 feddans, the Bleu Vert is located at the New Administrative Capital. The project comprises 208 villas of different styles and 34 buildings that include apartments of different sizes.
Mohamed Al-Taher, CEO of SED, confirms that despite the difficulties the real estate market is witnessing as a result of the successive economic changes, the company continues to complete all its real estate projects, on top of which is the Bleu Vert project.
Al-Taher reveals that Al-Kharafi starts work on the project and completes 10% of the infrastructure work.
Al-Taher adds that all infrastructure works in the project are scheduled to be completed in the middle of 2024, which includes electricity, water, sewage, smart internet networks, as well as road networks and the project’s external wall and gates.
He notes that the volume of the total project investments amounts to EGP 4.5 bn.