Arab Finance: Paragon Developments has joined a strategic alliance with Adeer International to develop a 1-million-square-meter mixed-use project in East Cairo, according to an emailed press release.

The project is set to include administrative, commercial, and hotel spaces, with the first phase to be developed on a land area of 250,000 square meters.

The first phase of the project will have a built-up area of approximately 350,000 square meters, including upscale hotels, serviced apartments, shopping centers, and office spaces.

Total sales from the first phase are expected to reach $1.5 billion.

This project aims to greatly contribute to the national economic development in line with Egypt Vision 2030 by creating new job opportunities, attracting foreign investments, and boosting the real estate and tourism sectors.


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