Egyptian developer Urbnlanes Developments, a subsidiary of Kuwaiti First Group, has launched a mix-used tower in the New Administrative Capital's downtown area at an investment of about 5 billion Egyptian pounds ($318 million), the company's chairman said.

Emeel Abdallah told Zawya Projects that the 41-storey 'Levels Business Tower,' spread over an area of about 18,000 square metres, comprises of offices, retail units and hotel apartments.

He added that Hafez Consultants is the main consultant of the project, in partnership with Dubai-based architecture firm White Space.

Abdallah said they have started enabling works, and would complete the project after four years.
(1 US Dollar = 15.70 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)

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