The Egyptian government-owned Elnasr Housing and Development Company has signed the concession contract with Scope International for a housing project in Cairo, Egypt.

The Mokattam Corniche housing complex will be developed on a 2 million m2 site in Al-Ahram area of Cairo. The complex will also include commercial, tourism, education and sport facilities.  

Scope International will act as the principal investor and will be responsible for the development of housing quarters and the complementary facilities. The project is valued at EGP32 billion (US$1.71 billion) and is expected to generate revenues of EGP61 billion (US$3.2 billion).