Serac Developments, a joint venture (JV) between Egyptian and UAE businessmen, has completed 30 percent of the construction of its commercial project City Hall in New Cairo

Kareem Mamoun CEO of Serac Developments told Zawya Projects that the project, spread over an area of 16,000 square metres, comprises of retail and office units housed in six 5-storey buildings.

He said Hafez Consultants is the architect.

Mamoun didn’t disclose the project cost and completion timelines.

Serac Developments is a JV between Egyptian business tycoon Tarek Suleiman and Emirati partners with a land bank made up of plots in New Cairo, New Administrative Capital, the North Coast.

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)