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Egyptian developer DIG recently announced the launch of its Track 20 mixed-use project in the New Administrative Capital (NAC) at an estimated investment of 1.5 billion Egyptian pounds ($49 million).
Company chairman Hussein Salah told Zawya Projects that the 15-storey mixed-use project comprises shops, offices and medical units.
Construction has already started and would be completed by 2026.
Salah said the company has deployed a capex of EGP1 billion ($32 million) this year for construction work across various projects.
He added that the company is awaiting building permits for its Z4 Mall in Janna Zayed, spread over an area of 2,500 sqm.
The 4-storey project is being developed at an investment of EGP1 billion, and it is scheduled to be delivered in three years from the start of construction.
Ongoing projects in the NAC include the 11-storey Track 10, the 13-storey Track 12 and the 15-storey Track 14 mixed-use projects.
The company has contracted with HRE Properties to operate its NAC projects and with Healthy Care Group to operate the clinics.
(1 US Dollar = 30.90 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
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