The National Real Estate Bank for Development SAE is close to finishing projects worth EGP 150m for the Ministry of Interior and the Egyptian armed forces, according to a company statement to the Egyptian Stock Exchange (EGX), Tuesday.
The bank is expected to deliver within three months a housing project for the armed forces, worth EGP 43m, in the Hikestep district in Cairo.
Furthermore, the delivery of three schools in Damanhur and another project in Borg Al-Arab are expected to occur soon, with both projects costing approximately EGP 26.2m.
The company has completed the development of the Luxor court structure for the Ministry of Interior, as well as the Al-Sanabel Towers, worth EGP 17.3m, which is being finalised.
A project in Ras Sedr is also expected to be finalised and delivered by the company within three months, with the project costing EGP 21.2m. Three other projects are also being developed by the company, at a combined total value of EGP 37.4m.
The National Real Estate Bank for Development SAE is based in Egypt, and is engaged in a number of real estate sector projects.
Amongst the services provided by the company, are the formation of feasibility studies, providing engineering and technical services as well as contracting for real estate projects.
