Egypt’s Agec Developments launched ‘Kentro One’ commercial project in the Fifth Settlement in New Cairo at a total investment of 600 million pounds ($31 million).

Chairman Ayman Louis Rafla told Zawya Projects that Kentro One includes stores, offices with construction starting in December 2022 and completing in three years.

Hafez Consultant is the lead consultant for the project, he said.

Rafla said the company recently launched the second phase of Ivy Residence project in El Shorouk City, which includes apartments, villas and townhouses

He also disclosed that Agec is opening a Regus business centre within its Paramount Business Complex building in Sheraton Heliopolis in partnership with IWG Global. He said the business centre includes 167 workspaces, meeting rooms and outdoor areas, and would be officially launched in early October.

(1 US Dollar = 19.49 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)