Egyptian developer Aqar Misr Developments has launched the last phase of its 1.4 billion Egyptian pounds ($30 million) Anakaji residential project in the New Administrative Capital (NAC), the company's general manager said.

The 20-acre Anakaji, located in NAC’s R8 area, comprises 800 residential units.

Bahaa Hefzallah told Zawya Projects that the last phase, called The Ark, comprises 150 residential units.

He said they have completed 70 percent of the entire project and intend to deliver 200 units by the end of 2024.

Hefzallah added that they are planning to pump EGP250 million ($5.4 million) into construction works in Anakaji in 2024.

He also disclosed that they are finalising the designs of a commercial project in R8 area, which is slated to be launched this year with new projects planned for New Cairo, the North Coast and the Red Sea areas.

(1 US Dollar = 46.66 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)


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