Egyptian developer Menassat Developments is planning to start construction of 2.5-billion-Egyptian-pound ($136 million) commercial project Podia Tower in the New Administrative Capital by the second quarter, the company's CEO said.
Tarek Bahaa said enabling works for the 25-storey tower are underway and main construction work will start in the second quarter, adding that the tower will house offices, clinics and stores.
EHAF Consulting Engineers is the main consultant of the project.
Baha said the developer has also launched a 600-million-pound ($33 million), 160-unit commercial project Eclipse in New Cairo.
He said LDP+ Partners is the design and engineering consultant, and Eltizam Asset Management is the facility manager for project, which is scheduled to be completed in 2025.
(1 US Dollar = 18.44 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)