CAIRO, Apr 2 (Aswat Masriya) - Emirati construction firm Arabtec Holding confirmed on Thursday it has agreed to conditions set by the Egyptian government to build the first phase of a major real estate project.

Arabtec added in a statement to Dubai's bourse that the signing of contract for the project's first phase with Egypt's government will be finalised "at the earliest opportunity."

Egypt's cabinet announced on Wednesday Arabtec's approval of its conditions, in a statement released after the cabinet's weekly meeting. The deal entails that the government would provide the land needed to build the project, whereas the project's infrastructure would be developed by Arabtec.

Arabtec agreed to implement the first phase of the project, amounting to 100,000 housing units in Cairo's cities of Obour and Badr, it said in its statement.

The project as a whole will see the construction of a million housing units in 13 sites across Egypt.        

Arabtec signed a memorandum of understanding with the Egyptian Defence Ministry in March 2014 but the deal was slowed down during negotiations on the final details.