Arabtec appoint UAE-based masterplanner for $40bn Egypt project

Arabtec has appointed UAE-based Architecture & Planning Group to be the masterplaner for its $40bn project to build up to one million new homes in Egypt.

The company announced that it had appointed a masterplanner for the project, which covers 13 different sites, on the Dubai Financial Market yesterday. The biggest of these could contain up to 500,000 homes.

Last week, Arabtec said that it had moved the former CEO of its construction arm, Sami Asad, to become head of the business responsible for delivering the project, Arabtec Egypt for Real Estate Development.

Asad had only joined Arabtec last year from Abu Dhabi-based developer Aldar Properties, where he served as CEO overseeing the development of Yas Island’s attractions as well as projects like Al Raha Beach and the new Abu Dhabi World Trade Center.