Egypt's Orascom Construction signs $61.4m contract with Abu Dhabi’s Eagle Hills

Orascom Construction has signed a contract with Abu Dhabi-based developer Eagle Hills Properties to construct a project in Egypt, the Arab world’s most populous country.

The contract for the development of Soul Luxury Beach Resort on Egypt’s north coast is valued at 1.9 billion Egyptian pounds ($61.4 million), Orascom Construction said in a statement on Tuesday.

The deal “signifies a commitment … in constructing and bringing to life parcels 3 and 4 (Flow – Breeze) within phase 1A of the resort, to be completed in 1,020 days,” the company said.

Orascom Construction is an engineering and construction contractor primarily focused on infrastructure, industrial and high-end commercial projects in the Middle East, Africa, and the US. It is dual-listed in the UAE and Egypt.