Egypt’s Mazaya Developments has started construction of its two projects located in the New Administrative Capital (NAC), the company's chairman said.
Mohamed Allam told Zawya Projects that the projects, located in the Downtown area, involve a total investment of more than 2 billion Egyptian pounds ($104 million).
The projects include The Rook, spread over an area of 2,800 square metres (sqm) and Gemini Towers Red & Blue project, comprising of two 14-storey commercial towers, spread over an area of 2,500 sqm.
Allam said the company has appointed Archrete Studio Design as main the consultant for the towers, which is being developed at an investment of approximately 1.2 billion pounds ($62 million).
Red tower is expected to be delivered in June 2026 while Blue is scheduled for December 2026, he said.
CEO Mohamed Mostafa said the company has allocated 600 million pounds ($16 million) for construction works.
He added that company is currently studying the launch of a residential project, its fourth project, in the NAC, but didn’t elaborate.
(1 US Dollar = 19.26 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)