Badr Eldine Constructing announced on Wednesday a joint venture with the Consolidated Contractors Company (CCC) to form a new entity called Badr Eldine Constructing – CCC.
The new company will implement the 1st phase of a 205-feddan project located in West Cairo. The project is being developed by Arkan Palm Development in partnership with the New Urban Communities Authorities (NUCA).
Collaboration between the public and private sectors is one of the most important mechanisms that have entered the local real estate market in recent years. This mechanism achieved the highest rates of development in a short time. It also allowed competition among companies to prioritise creative outcomes that could boost profits.
CEO of Arkan Palm, Tamer Badr Al-Din, said that the joint venture was a leading step to present a unique outcome that could comply with the amount of reconstruction, development, and mega projects implemented by the state, expressing the company’s happiness to collaborate with CCC — an experienced company in the field of construction that has implemented many mega projects around the world.
He added that the new company will construct the 1st phase of the residential part of the 205-feddan project located in Sheikh Zayed City, according to the agreement signed.
Badr noted that the 1st phase will be constructed in 14 months, while Arkan Palm will start to deliver the units of the 1st phase in two years and half, around one year and three months before the originally scheduled time.
He elaborated that the USA architecture firm of Gensler is also participating in the project, along with Egyptian consultancy offices such as Raef Fahmi Architects, Ramy Al-Dahan Egypt for Architecture, and Dar Al-Handasa.
