Egyptian developer Modon Developments is poised to launch the Green River Tower commercial project in the New Administrative Capital (NAC) at an investment of about 4.5 billion Egyptian pounds ($285 million).

A press statement quoting Modon Developments CEO Ahmed Osama said the 30-storey tower would be launched this month (March).

He said the project, which will include offices, shops, and hotel apartments, would be completed in four years.

DMA for Designs and Engineering Consultancy is the main consultant for the project.

Modon Developments is also building the 18-storey Central Iconic Tower, located in NAC's Central Business District, at an investment of about 1-billion-pounds ($63 million).

Modon is a joint venture between Egyptian and Kuwaiti investors.

(1 US Dollar = 15.77 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)