30 September 2019
Egypt's Kasr El Nile has launched West Eleven commercial project in 6th October City at a total cost of about 700 million Egyptian pounds ($43 million), the company's managing director told Thomson Reuters projects.

Ehab Al Wagih said the project, spanning an area of 21,000 square metres (sqm), would include a 70-unit outlet mall, a medical centre, a 3,000 sqm hyper-market, 1,500 sqm business hub, a 500 sqm kid's area and plaza.

He said construction work started six months ago, adding that the project is scheduled for delivery in 2020.

Al Wagih said Sabbour Consulting is the project consultant while Brickzey Commercial will provide marketing and sales services.

The developer is targeting 1.5 billion pounds ($92 million) in sales revenue from the project, he concluded.

(1 US dollar = 16.24 Egyptian pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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