Latest news with #HassanAllamConstruction
Trade Arabia
24-05-2025
- Business
- Trade Arabia
Hassan Allam lands key tram revamp project in Egypt
Hassan Allam Construction, a subsidiary of Hassan Allam Holding, one of the largest engineering, construction, investment, and development companies in the Middle East and North Africa has signed a contract with National Authority for Tunnels for the implementation of the infrastructure works for the Alexandria Raml Tram Rehabilitation in Egypt. The project is being set up by Hassan Allam in a joint venture with The Arab Contractors. As one of the world's oldest electrified tram networks, the Alexandria Raml Tram holds immense cultural and historical value. Its comprehensive rehabilitation will transform it into a modern, efficient, and accessible mode of transport in line with Egypt's broader vision for environmentally friendly mass transit solutions that provide reliable and high-quality services. The scope of work includes the rehabilitation of a 13.2-km tram line, the construction of a modern maintenance depot, the development of elevated viaducts at key traffic intersections, and the upgrade of 24 stations along the route, said Hassan Allam Construction in a statement. These enhancements are set to significantly reduce journey times from 60 to 35 minutes by increasing operational speed from 11 km/h to 21 km/h. The project will also decrease headways from nine minutes to just three, tripling hourly capacity from 4,700 to 13,800 passengers in each direction, it stated. In addition to improving the efficiency and reliability of Alexandria's public transport system, the upgraded tram will support smoother traffic flow, reduce emissions, and boost environmental sustainability in the city. The signing ceremony took place in the presence of Lieutenant General Engineer Kamel Al Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry. On the contract win, CEO Hassan Allam said: "This project represents a significant milestone in the modernisation of Egypt's public transportation infrastructure. Revitalizing the historic Raml Tram will not only improve urban mobility in Alexandria but also preserve a vital piece of the city's cultural identity." "We are proud to play a role in delivering sustainable infrastructure that supports national development goals," he stated. According to him, Hassan Allam Holding is transforming transportation across the Middle East. Its critical transport infrastructure modernization projects in Egypt include Cairo Metro Line 4, the Khor Helwan Bridge – part of Egypt's High-Speed Rail Project, Upper Egypt's Bashteel Train Station - the largest of its kind in the Middle East and Africa, and the Light Rail Transit system connecting 10th of Ramadan City to the New Administrative Capital. Regionally, the company is leading groundbreaking initiatives like Hafeet Rail – the first cross-country railway network in the Middle East connecting the UAE and Oman.
Zawya
06-05-2025
- Business
- Zawya
Hassan Allam Holding raises $55mln to fund Bab Masr project in Cairo
Egypt's Hassan Allam Holding has raised 2.8 billion Egyptian pounds ($55.26 million) Islamic loan to fund Bab Masr, a green field mixed-use development in Cairo being developed by its wholly owned unit Hassan Allam Construction. Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt, acted as a financial advisor, lead manager, book-runner, and underwriter for the Musharaka Sukuk, the firm said in a press statement. Bab Masr, located in Mohandiseen, is being developed by Bab Masr Development, a company fully owned by Hassan Allam Construction. The project spans 100,000 square metres and includes 17 buildings dedicated to commercial, administrative, residential, medical, and garage spaces. BabMasr is a key part of the development surrounding the Upper Egypt railway station, Egypt's largest, and connected to Cairo Metro's third line, monorail, and BRT system. National Bank of Egypt, Suez Canal Bank, ADCB, IDB, and SAIB participated as underwriters. Zulficar and Partners acted as the legal advisor, Baker Tilly as the transaction Auditor, MERIS (Middle East for Credit Rating and Investors Service) as the credit rating agency, ECG as the transaction independent engineer and RSM as the independent financial advisor for the issue. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
