Saudi Egyptian Developers Launch Central Project in New Cairo
Strategic Partnership and Investment
Consolidated Contractors Company (CCC), a leading construction firm with significant operations in the Middle East, has announced a partnership with Saudi Egyptian Developers (SED) to develop “Central” in New Cairo. This mixed-use development marks an ambitious move for SED, with an investment projected to exceed EGP 12 billion (approximately US$254 million).
Project Overview
Central will occupy a strategic location at the intersection of North and South 90th Streets and the Mohamed Naguib Axis, covering a total area of 160,000 square meters. The development will consist of ten buildings that will host high-end offices, commercial outlets, and leisure spaces.
Construction is set to commence in November 2025, with an anticipated completion timeline of four years. CCC will manage all aspects of the construction process, including the execution of buildings, façades, landscaping, public areas, as well as parking facilities.
Commitment to Quality and Design
Mohamed El-Taher, the CEO of Saudi Egyptian Developers, emphasized the project’s significance, stating, “Central reflects our commitment to creating world-class urban destinations that prioritize quality, sustainability, and modern design.” He highlighted that the collaboration with CCC illustrates SED’s trust in one of the most reputable contractors in the region.
In a related initiative, SED recently signed a Memorandum of Understanding (MoU) to attract leading global retail brands to the Central project, further enhancing its appeal as a commercial hub.
Background of Saudi Egyptian Developers
Established in 1975, SED is a collaborative venture between the Saudi and Egyptian governments. The firm has consistently aimed to create communities that set future urban landmarks, with a portfolio that includes around 24,000 housing units. Major projects within their current portfolio consist of Jayd New Cairo, Bleu Vert New Capital, and Nile Towers Maadi.
CCC’s Vision for Sustainable Development
Mohamed Tarek Kamel, Executive Director for Africa at CCC, articulated the synergy between the partnership and CCC’s ambitions. “Our collaboration aligns with our vision to deliver sustainable, cutting-edge developments,” Kamel noted. He added that Central will play a pivotal role in shaping the commercial landscape of New Cairo, contributing positively to regional urban development.
CCC’s Global Footprint
Founded in 1952 and headquartered in Athens, Greece, CCC has built an impressive track record with over 1,500 completed projects valued at approximately US$300 billion. Over the past decade, the company has achieved average yearly sales of US$3 billion and an average project backlog of over $6.4 billion, solidifying its position as a leader in the global construction industry.
By undertaking the Central project, CCC expands its footprint in Egypt while reinforcing its commitment to delivering quality construction solutions within the region’s growing urban landscape.
Published on 1762158075 • Category: Construction,Egypt,new cairo,urban development