Mivan Secures Landmark Project In Egypt

Antrim-based Mivan has secured a commercial and residential construction project worth over £90m in Egypt.

They will be working for Al Futtaim Real Estate Development at the Cairo Festival City project.

Mivan recently completed a construction management contract for the same client on the construction of a number of themed 'Oriana Villas' also on the Cairo Festival City site. The contracts are Mivan's first in Egypt during a 35-year history that has spanned over 40 countries.

The new contract involves the construction of two double offices, 10 apartment blocks and three retail units.

The contract also includes excavation and any ground enhancement measures, structural concrete frame, block work, the fit-out of the apartments, office cores and retail shell. Mivan will be on-site until August 2013. The project is supported by Deutsche Bank and the ECGD, whom Mivan has worked with in previous projects.

Speaking about the contract, Mivan Acting Chief Executive Mervyn McCall commented: "The Festival City project in Cairo is one of the most impressive masterplans for the region. Egypt and Cairo in particular is going through exciting changes and Mivan is pleased to be involved with its development. This series of contracts also marks our first project with Al Futtaim, a global player in every sense."

Mohamed El-Mikawi, Managing Director from Al Futtaim Group Real Estate LLC added: "The combination of Egypt's dynamic real estate industry the groundbreaking concept of Cairo Festival City as a premier mixed-use urban community, and internationally-renowned partners such as Mivan, offer a win-win situation for all stakeholders including consumers, retailers, local manufacturers and investors.

"Just as Al Futtaim Group Real Estate has done with Dubai Festival City, at Cairo Festival City we're looking forward to showcasing the best of what Egypt has to offer by combining the finest shopping, dining, entertainment, homes, school, offices and leisure activities in one beautiful, easily-accessible area of Greater Cairo."

Spanning three million square metres Cairo Festival City is a visionary mixed use urban community strategically located just 15 minutes from Cairo International Airport.

Cairo Festival City features Cairo's first indoor-outdoor retail and entertainment resort combined with luxury residential communities, prime office spaces, internationally renowned hotels, schools and an automotive park, all set within a lush landscaped environment.

(BMcC)