People & Places awards EGP1.6bn construction contracts for its North Coast development

People & Places, next-generation community maker, has announced the signing of contracts with Solid and ASASS Construction companies for a total investment value of EGP 1.6bn to begin the construction of its first development, “THE MED” in Ras El Hekma on the North Coast. The signing took place after the completion of the Ministerial Decree permit, and the company plans to start phase 1 construction in the first quarter of 2023.

In presence of Mohamed Khaled El Assal and Nabil Amasha, Founders of People & Places, and Ziad El Hares, Managing Director of ASASS Construction, the agreement was signed by Karim El-Assal, Founder of People & Places, Islam Onsy, General Manager of ASASS Construction, and Kareem Fawzy, Chairperson of Solid Construction.

“We are thrilled to begin construction of our first development only a few short months after our launch in the summer, which reflects our commitment to providing top-quality real estate products and ensuring timely project completion. Our goal is to offer a complete experience to our customers upon handover, we are therefore focused on finalizing all aspects including green spaces, water features, and beach amenities.” says Karim El-Assal, Founder of People & Places.