22 September 2019
Egyptian developer Lamar Global Development (LGD), a subsidiary of Gebaly Engineering Group, launched on Sunday its Aventra mixed-use project in the New Administrative Capital at an investment of about 300 million Egyptian pounds ($18 million).

LGD Chairman Roshy Al-Gebaly said in a press statement that the 10-storey twin-building project, spread over an area of about 3,500 square metres in the mu23 zone, would include commercial units, clinics, meeting rooms, and leisure facilities.

The statement said Arcan Engineering Consultants is the project consultant.

Al-Gebaly added that construction of the project is scheduled to start early in 2020 and continue for two years. The project would be executed by group company Gtac.

The development would be a smart building powered by solar panels, he concluded.

(1 US Dollar = 16.32 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal

© Thomson Reuters Projects News 2019