27 October 2019
Property developer Living Yards Developments is planning a new project at Egypt's northern coast, the company's Chief Commercial Officer told Thomson Reuters Projects.

Hashem El Kadi said the company is considering a new project in Sidi Abd El Rahman on the northern coast but declined to elaborate on nature of the project or its cost.

He said the company has launched the 10,000-square metre commercial part of The Loft residential project in the New Administrative Capital, which would feature retail, office and medical units.

The Loft's construction is scheduled to start in November and be completed over a four-year period, said El Kadi.

In July, Daily News Egypt had reported that the company had received ministerial approvals to start construction of the 2.5 billion Egyptian pounds ($155 million) development.

(1 US Dollar = 16.14 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)


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