Egyptian developer Maqam Misr has launched 5 East Tower commercial project in the New Administrative Capital (NAC) at an investment of about 670 million Egyptian pounds ($38 million).

The 13-storey commercial tower, spread over an area of 3,585 square metres, includes 293 office and retail units.

Chairman Al-Saeed Shaaban told Zawya Projects that enabling works has started on the site with main construction scheduled to start in six months and complete in 2026.

Yasser Albeltagy Architects (YBA) is the main consultant and the UAE’s Eltizam is the facility manager for the project, he said, adding that the company is planning new residential and medical projects in the NAC.

(1 US Dollar = 18.76 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)