Egypt-based Palm Hills has signed an agreement with real estate developer Madinet Nasr for Housing and Development (MNHD) to establish an integrated residential project on the Cairo-Suez desert road, said a report.

As per the agreement, MNHD will offer the land and act as the project’s master developer, carrying out work on the networks, infrastructure and utilities, while Palm Hills will be responsible for the project’s design, marketing, implementation and delivery to clients, reported the Daily News Egypt.

The project, which will come up over 433,650 sq m of land owned by MNHD, is likely to take nine to 10 years for completion, it stated.

The duo plan to implement the Cairo-based residential project in four stages, the report stated.

The first stage, comprising residential buildings with four to six floors, will be completed in four years.