News Archive

NREC requests licensing its project with KUWADICO in the 6th of October

10 - February - 2008

NREC’s project with KUWADICO (Egypt) to build an integrated city in the 6th of October City was subjected to several technical changes in the designs, which have actually been finalized and are now ready to submit to the Egyptian Urban Communities Authority to obtain the building licenses and mandate the tasks to the selected contractors.

The project cost will amount to KD 82.5 million, equivalent to EGP 1.6 billion. The project consists of commercial complexes, specialized language schools, in addition to investment complexes and office & residential towers of various sizes. These projects will be executed after the license is obtained, following approval of the Investment Authority in Egypt.

NREC will finalize the selling and marketing of the entire facilities of its project in the 6th of October City by the end of 2008, as per the plan laid down in cooperation with KUWADICO. It will also assign 50% of the city to green areas according to systems which are fully compliant with the clean environment standards in the real estate field and construction of cities and complexes.