Emirati-Egyptian joint venture Alqamzi Developments is planning to start main construction of its 3-billion-Egytian-pound ($164 million) Eastshire residential compound in New Cairo in the fourth quarter, the company's CEO said.

Yasser Zidan told Zawya Projects that they have started enabling works for the 29-acre project, which includes 229 townhouses and stand-alone villas.

He said the project would be completed by 2025.

Raef Fahmi Architects is the lead consultant, and Ökoplan is the landscape designer for the project.

Zidan disclosed that the company will announce a 204-acre project on the North Coast in the next two months, and a residential project in Misr El Gedida district in Cairo soon but declined to share more details

(1 US Dollar = 18.31 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)