Egyptian developer Capital Link Developments has commenced construction on its Kardia project in the country's New Administrative Capital (NAC), company chairman Ashraf Badie said.

Badie told Zawya Projects that Master Link has been appointed as the main contractor for the project's first phase, valued at 570 million Egyptian pounds ($12 million). This initial stage is expected to be completed by April 2025.

Located in the R8 zone of the NAC, Kardia spans over 22 acres and represents a total investment of EGP5 billion ($105 million).

Badie said the project will feature a total of 951 apartments, with deliveries slated to begin in mid-2026.

(1 US Dollar = 47.41 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)


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