Emaar Misr appoints OCI-Contrack as Marassi contractor

The award of the contract follows a competitive bid in which six established Egyptian contracting companies participated.

The local expertise provided by OCI-Contrack will complement the high standards in design and master-planning associated with Marassi, an EGP 9.92bn (Dhs6.39bn; $1.74bn) project. Marassi features world-class tourism, leisure, commercial and residential components and has gained strong international investor interest.

Sameh Muhtadi, CEO of Emaar Misr said: "Emaar Misr is ahead of schedule on contractor selection for Marassi and nine months ahead of our commitment to the government in overall project management. We are partnering with the best-in-class to deliver the outstanding quality that is expected of the project, and wherever possible we work with local companies. OCI-Contrack has a strong track record in delivering high quality projects and will bring to Marassi their large pool of expertise and experience. By winning the bid, OCI-Contrack reiterates the capabilities of Egyptian companies in undertaking world-class projects."

Karim Camel El Towag, CEO of OCI-Contrack said: "Marassi is redefining the concept of tourism resort development and its varied mix of residential, commercial, leisure and hospitality components will make the first-of-its-kind resort project on Egypt's Mediterranean coast. We are proud to partner with Emaar Misr, and strive to deliver the world-class standards that mark Emaar's projects globally."

Mohamed A. El Moshneb, Senior Director - Development, Emaar International, said: "Emaar is committed to working with local technical expertise wherever possible while ensuring that our designs and developments match global standards. OCI-Contrack, with its extensive portfolio, is a perfect fit for our developmental plans for Marassi."

Marassi is a 6.25 million sq m development that features seven distinct lifestyle districts celebrating the varied facets of Mediterranean living. A dedicated sales centre has already opened in Cairo for the competitively priced Marassi homes. Marassi homes are inspired by several architectural styles including Egyptian, Greek, Andalusian, Italian, Spanish, Tunisian and Moroccan.

The development's central location along the Alexandria/Marsa Matrouh Road will be an added attraction for the project, which offers six km of open beachfront. Marassi is accessible from the Burj El Arab and El Alamein airports.