Egyptian developer White Eagle Developments will launch its 2.5-billion-Egyptian-Pound ($132 million) Blue Bird residential project in the New Administrative Capital's R8 area next month, the company's chairman said.

Ahmed Gebili told Zawya Projects that the 25-acre development, which will be launched in August, is a joint venture with state-owned Egyptair, which owns the plot.

He said the project would include 33 buildings incorporating 872 residential units, and a 8,000 square shopping centre.

Gebili said the entire project would be completed in three phases over four years, adding that they are awaiting ministerial approval to start construction.

DSC International is the main consultant of the project.

(1 US Dollar = 18.90 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)