Qatari Diar Egypt Awards Concrete Plus EGP3.5bn CityGate Contract

Qatari Diar Egypt has awarded a significant construction package for the CityGate project in New Cairo to Concrete Plus, a leading construction and engineering firm in Egypt. This contract, valued at EGP3.5 billion, marks a key move in Qatari Diar’s strategy to enhance development on one of Egypt’s largest urban projects, ensuring adherence to international standards in quality and execution.

Details of the CityGate Project

The announcement was made by Sheikh Hamad bin Talal Al Thani, Chief Executive Officer of Qatari Diar. He emphasized that CityGate is a flagship initiative that reflects the company’s vision of creating fully integrated urban communities managed to the highest international standards. The awarded contract involves the construction of 300 residential units and infrastructure works, slated for completion within a 30-month timeframe, following a precise implementation schedule.

Sheikh Hamad stated, “This contract forms part of Qatari Diar Egypt’s strategy to accelerate delivery while ensuring the highest levels of quality, enhancing the project’s investment value and meeting the growing market demand for modern and sustainable communities.” He highlighted that Qatari Diar Egypt has achieved sales exceeding $1 billion and direct investments surpassing $7 billion, showcasing its robust commitment to the Egyptian market.

Concrete Plus’ Role and Industry Impact

In response to the award, Eng. Tarek Youssef, Founder and Chief Executive Officer of Concrete Plus, expressed pride in the trust demonstrated by major real estate developers. “Winning the CityGate project reflects the strong confidence placed in Concrete Plus and highlights our extensive experience in delivering integrated residential developments in accordance with the highest technical and engineering standards,” he noted.

CityGate is positioned as one of the most significant strategic projects within Qatari Diar’s Egyptian portfolio. The development encompasses approximately 8.5 million square meters, strategically linking New Cairo to the New Administrative Capital. Upon completion, total investments for CityGate are projected to exceed $12 billion.

The project is designed to feature a comprehensive array of services and facilities, including business districts, world-class golf courses, educational institutions, healthcare facilities, sports amenities, and extensive green spaces. This vision underscores Qatari Diar’s commitment to fostering integrated and sustainable urban communities that prioritize quality of life.

As the construction progresses, Qatari Diar Egypt aims to solidify its position in the real estate sector, driven by both the scale of investments and the demand for modern living spaces. The partnership with Concrete Plus is poised to play a critical role in realizing these ambitions.