Orascom Construction has secured a major contract from Ora Developers to build the first phase of ZED Sheikh Zayed in Egypt. A multi-purpose project, ZED Sheikh Zayed will be built in six phases and on completion it will boast over 4,500 residential units and an administrative commercial complex. Ora Developers has already signed an agreement worth E1 billion with Banque Misr for the financing of the initial phase of the project. The Egyptian developer said the contract has been awarded to Orascom following the completion of the master plan and architectural design work by WATG International. As per the deal, Orascom Construction will be constructing around 600 housing units in the Phase One. The scope of work also includes the construction of a three-storey garage, a two-level mall and four 17-storey apartment towers.