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Qatari Diar awards Concrete Plus main construction package of CityGate project

CAIRO: Qatari Diar announced the award of one of the main construction packages for the CityGate New Cairo project to Concrete Plus, one of Egypt's leading construction and engineering companies, with the project's total value standing at EGP3.5 billion.

In a press release issued on Monday, the company said that this award comes as part of Qatari Diar's strategy to accelerate construction progress on one of Egypt's largest integrated urban developments, reflecting the company's commitment to applying the highest international standards in quality, planning, and execution.

In this context, Chief Executive Officer of Qatari Diar Sheikh Hamad bin Talal Al Thani stated, "CityGate represents one of the flagship models of Qatari Diar's vision to develop fully integrated urban communities that are managed according to the highest international standards and delivered by Egyptian expertise. In line with this approach, the contract for one of the project's main construction packages has been awarded to Concrete Plus, with a total value of EGP3.5 billion, covering the construction of 300 residential units in addition to the execution of infrastructure works, to be delivered over a 30-month period according to a clear and precise implementation schedule."

He added, "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. Qatari Diar Egypt continues to strengthen its position in Egypt's real estate sector, having achieved sales exceeding USD1 billion, alongside direct investments surpassing USD 7 billion—underscoring its long-term commitment to the Egyptian market and its strategic importance within Qatari Diar's global portfolio."

For his part, Founder and Chief Executive Officer of Concrete Plus Eng Tarek Youssef said, "Winning the CityGate project reflects the strong confidence placed in Concrete Plus by major real estate developers and highlights our extensive experience in delivering integrated residential developments in accordance with the highest technical and engineering standards, while adhering to agreed quality benchmarks and delivery schedules."

CityGate is one of the most prominent strategic projects within Qatari Diar's Egyptian portfolio, embodying the company's vision for developing integrated and sustainable urban communities based on long-term planning and quality of life.

The project spans approximately 8.5 million square meters in a strategic location linking New Cairo with the New Administrative Capital, with total investments exceeding USD12 billion upon completion.

The development includes a comprehensive network of services and facilities such as business districts, world-class golf courses, educational, healthcare, and sports facilities, as well as extensive green spaces. The project is expected to generate more than 200,000 direct and indirect job opportunities throughout its various development phases