By Andy Sambidge
Dubai developer says work on Hyde Park villas scheme scheduled to start in Dec.
Dubai developer Damac Properties has said it will award a new main construction contract next month for its luxury Hyde park project in Egypt.
Nine companies are vying for the tender to build 88 buildings and 320 villas for the Cairo development, the company said in a statement.
The developer added that construction work would start once the contract was awarded in mid-December with the first units set to be delivered by Damac by the end of 2011.
Hyde Park was launched in December 2007 and covers 4.7 million sq m with villas designed along the theme of Italian-Country, California-Spanish and Neo-classical.
The project will also feature more than one million sq m of green spaces including a walking and running track.
Alaa Ayoub, chief executive officer for Damac Egypt said: "we promised our clients luxury in all our projects, and the issuing of this tender is a major step in our development. The successful tender bid will be announced by mid-December and the successful contractor will commence immediately after."
The Hyde Park project is one of a number of luxury developments being undertaken by Damac in Egypt.