Innovo Construction Awarded EGP 7.1 Billion Contract for Phase One of Emaar Misr’s Marassi Red
Innovo Construction has signed an EGP 7.1 billion contract with Emaar Misr for Development to serve as the main contractor for Phase One of the Marassi Red project on the Red Sea coast.
This agreement reinforces the longstanding partnership between the two companies in executing major real estate and hospitality developments across Egypt.
The 27-month project contract covers the full construction and finishing of 213 premium residential units across Parcels 3 and 5, spanning a built-up area of 109,352 square meters.
Scope of work encompasses fully finished villas, townhouses, primary infrastructure, roads, earthworks, soil stabilization, security structures, boundary walls, artificial lakes, and extensive landscaping.
Eng. Mohamed Gamal, Managing Director of Innovo Construction, highlighted that the project represents an extension of mutual trust and shared vision, strengthening the Red Sea’s position as a premier global tourism and residential destination.
