Emaar Misr signs US $269.6mn contracts with Rowad and Innovo Group for Marassi Red Sea
Under the first contract, Egypt-based contractor Rowad Modern Engineering will construct 675 villas and townhouses at Infinity Beach
Developer Emaar Misr signed 2-construction contracts totaling US $269.6mn with Rowad Modern Engineering and Innovo Group. These contracts are for the Infinity Beach and Island Living projects located in Marassi Red Sea.
The agreements bring the total value of construction contracts awarded for the development to $389mn, marking one of the largest construction investments in Emaar Misr’s history. The company intends to expedite the work on the first phase, with unit handovers scheduled for 2029.
Under the first contract, Egypt-based contractor Rowad Modern Engineering will construct 675 villas and townhouses at Infinity Beach. This project will encompass a total built-up area of 150,000sqm.
On the other hand, Innovo Group will construct 220 villas at Island Living, covering a built-up area of 100,000sqm.
Construction has also commenced on the Marina buildings under an earlier contract with Arabian Construction Company (ACC). This phase involves 32 residential buildings, each with 750 units, spanning 100,000sqm.
Emaar Misr’s portfolio encompasses various regions, including West and East Cairo, the North Coast, and the Red Sea region.
