Cairo – Mubasher: The Egyptian New Urban Communities Authority (NUCA) has awarded an EGP 97.9 million contract to Giza General Contracting and Real Estate Investment Co.

Under the deal, the real estate firm will establish 21 villas in New Mansoura, according to a statement to the Egyptian Exchange (EGX) on Tuesday.

Construction will be executed within 15 months as of the date of taking possession of the site, the statement showed.

Last week, NUCA awarded an EGP 317.3 million contract to Giza General Contracting and Real Estate Investment Co. to establish a project in Aswan.

It is worth noting that during the first nine months 2019, Giza General Contracting’s net profit inched up to EGP 47.999 million from EGP 47.792 million in the prior-year period.