TLD and ASASS Construction sign a partnership agreement for construction works of Armonia New Capital
TLD-The Land Developers, a leading Egyptian real estate developer, announced its partnership agreement with ASASS Construction, one of the biggest construction companies in Egypt, to carry out the construction work of Armonia New Capital, with EGP 210 million contractual agreement value.
The partnership comes in line with TLD’s strategy to cooperate with renowned and reliable partners, to deliver best-in-class projects according to international standards. The partnership is set to accelerate the pace of work in the project to complete it in a timely manner with the highest quality, and fulfill the company’s promise toward its clients.
Spanning an area of 42 acres, Armonia is built in a strategic location in the heart of New Administrative Capital at R7. The project is within close proximity of all key districts including the Government Center, Diplomatic District, Investment Zone, Conference Center, the New Administrative Capital Airport, Mohammed bin Zayed axis, and the Regional Ring Road.
With total project investments of EGP 3 billion, Armonia offers 1,750 units on only 20% of the project’s land size, while the remaining 80% of the project is green spaces and landscapes. Construction began in July 2022 and the first phase is expected to be delivered in June 2023.
The partnership was signed in the presence of Mr. Ahmed El Tayebi, Chairman and CEO of TLD-The Land Developers, Eng. Hossam El Sawwaf, Chief Development Officer of TLD-The Land Developers; Eng. Ziad El-Hares, Managing Director of ASASS Construction and Eng. Islam Onsy, General Manager of ASASS Construction.
In this regard, Mr. Ahmed El Tayebi, Chairman and CEO of TLD-The Land Developers, stated that, “The partnership with ASASS Construction comes in line with the company’s strategy to partner with reputable contractors with proven track-record and experience in the construction sector, to provide state-of-the-art real estate product; according to the highest international standards and quality. We deploy our extensive market expertise that extends for nearly 40 years in different fields including tourism and real estate development, to offer top-notch real estate projects that gain our customers’ trust and meet their needs and aspirations, while being committed to deliver the projects within the agreed-upon timeframe.”
Eng. Islam Onsy, General Manager of ASASS Construction, stated that the partnership with TLD is a newly added achievement for ASASS’ accomplishments in the construction field, especially as TLD is one of the leading companies in the real estate sector and has always been committed to provide the highest service and quality level to its clients in different projects. With Armonia being TLD’s flagship project, the company was keen to provide the highest quality with international standards. Eng. Islam also pointed out that TLD was able to prove during the previous years the technical, human and financial capabilities, that should make a difference within the Egyptian real estate market.
