MISR EL GADIDA FOR HOUSING AND DEVELOPMENT SAE EGX:HELI:
COMPLETES CONTRACTING PROCEDURES WITH AL-SAFI AND JEBAL COMPANIES FOR PARTICIPATION IN DEVELOPMENT OF CO'S LAND PLOT IN MANSOURA CITY, WITH APPROXIMATELY AREA OF 52,000 SQUARE METERS
TOTAL REVENUES OF PARTNERSHIP PROJECT ESTIMATED AT ABOUT EGP 10 BILLION
CO'S SHARE AMOUNTS TO 31% OF TOTAL REVENUES, EQUIVALENT TO REVENUES ESTIMATED AT ABOUT EGP 3.157 BILLION, WITH A CURRENT VALUE OF MINIMUM CONTENT OF EGP 2.210 BILLION, TO BE PAID OVER 6 YEARS
IN ADDITION, COMPANY RECEIVES 5% OF VALUE OF THE FINISHING WORKS, IN ADDITION TO AN ADVANCE PAYMENT OF EGP 65 MILLION TO BE PAID IN TWO INSTALLMENTS