Egyptian developer First Group expects to start construction of its Kazan Plaza mall in 6th of October City in the third quarter at a cost of 400 million Egyptian pounds ($24.7 million), the company chairman told Zawya Projects.

Bashir Mostafa said construction would start within three months, adding that the company has sold 77 percent of the mall's 175 office and medical units. The project also includes 50 commercial units that would be leased, he said.

The first three phases of the under-construction Kenz compound in the new capital would be completed by June 2021, Mostafa added.

(1 US Dollar = 16.22 Egyptian Pounds)

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

(anoop.menon@refinitiv.com)

#Egypt #Construction #Kazan Plaza mall #Kenz compound

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