Egypt’s Ontario Developments has started construction of its 550 million Egyptian pounds ($22 million) Maple Business Complex in the New Administrative Capital (NAC), the company's CEO said.

Mahmoud Hamed told Zawya Projects that the 12-storey project, spread over an area of about 2,680 square metres, includes offices, stores and clinics.

He said Hafez Consultants is the project’s lead consultant, adding that delivery is planned to begin by 2026.

Hamed also disclosed that the developer is planning new residential and healthcare projects and expect to invest EGP 5.6 billion ($228 million) over the coming five years in ongoing and new projects.

(1 US Dollar = 24.55 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)