Arkan Palm for Real Estate Investment has signed a contract with Gensler, a global design and architecture firm, to develop designs and a detailed masterplan of its 205-feddan project in Sheikh Zayed City, which is being implemented in partnership with the New Urban Communities Authority (NUCA).
In late March, Arkan Palm signed an agreement with the NUCA for the construction of an integrated commercial, administrative, medical, and recreational complex.
The project will be located on the 26th of July Axis in Sheikh Zayed City, with investments worth EGP 59bn, and is expected to create 57,000 jobs and accommodates160,000 families.
CEO of Arkan Palm for Real Estate Investment, Mamdouh Badr El-Din, said in press statement on Wednesday that the company has chosen Gensler because of its previous track record and international expertise and because the firm has developed designs for major real estate projects in various countries in the world and in Egypt.
Badr El-Din added that the office will finish the designs and masterplan of the project within 20 weeks, after that the company will apply to obtain ministerial approval for the project development and licenses and then will begin construction immediately.
He explained that the project encompasses mixed uses between residential towers and independent units, as well as commercial, administrative, medical units, in addition to a hotel and entertainment areas, located in a privileged location next to the Nile University and directly overlooking the axis of 26 July.