ArabFinance: Al Shams Housing and Urbanization (ELSH) announced it has awarded the partnership contract regarding the development of E4 land plot under Solana project in the New Administrative Capital to Olive Tree Contracting and Real Estate Investment, according to a statement filed to the Egyptian Exchange (EGX).

The two parties have agreed upon the financial percentage and the expected total revenue from the project.

Al Shams Housing (the landowner) is expected to generate 36% of the total expected revenue, while Olive Tree’s (the developer of the project) projected revenue from the project represents 64%.

Al Shams Housing is primarily focused on the purchase and lease operations of lands for the purpose of developing, managing, selling, and leasing out property and buildings, as well as offering contracting, construction, maintenance, and management services to residential, touristic, and administrative structures.