Egyptian developer Arqa Development Group (ADG) has started construction of its 5 billion Egyptian pounds ($319 million) I-Business Park project in the New Administrative Capital (NAC), the company's CEO said.
Gamal said the project would be finaced by equity and customer advances with the company pumping 1.2 billion pounds ($76 million) into the project this year. He also disclosed that Arqa's next project in the NAC is a commercial project but declined to elaborate.
(1 US Dollar = 15.69 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@refinitiv.com)
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.

© ZAWYA 2021