Mithaq Arab Group (MAG), a joint venture between Emirati, Saudi and Egyptian investors, has completed enabling works for its flagship La Reva development in Egypt’s New Administrative Capital (NAC) and is awaiting a ministerial decree to begin construction, the company’s chairman said.

Sheikh Abdullah Al-Amoudi told Zawya Projects that the 26 billion Egyptian pounds ($555 million) project spans 38 acres in the R8 district (Plot P1) and represents MAG’s first major development.

Sheikh Abdullah Al-Amoudi, Chairman, Mithaq Arab Group (MAG). Image source: Mithaq Arab Group
Sheikh Abdullah Al-Amoudi, Chairman, Mithaq Arab Group (MAG). Image source: Mithaq Arab Group
Sheikh Abdullah Al-Amoudi, Chairman, Mithaq Arab Group (MAG). Image source: Mithaq Arab Group

Mohamed Talaat Architects (MTA) is the lead architect, HZ Engineering is the structural consultant and Okoplan is the landscape designer for the project, he said.

The development will comprise nine-storey residential buildings, alongside a commercial hub and leisure facilities.

Al-Amoudi said MAG plans to invest up to EGP 60 billion ($1.3 billion) across Egypt over the coming period, with a focus on the NAC, the Red Sea coast, New Alamein City and New Zayed City.

(1 US Dollar = 46.87 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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