Castle Development launches $46mln project in Egypt’s new capital

The new project will be delivered in 2021

  
Image used for illustrative purpose. A general view of the new Capital Residence residential buildings, in Egypt's new administrative capital, approximately 45 km (30 miles) north of the current capital Cairo, Egypt October 18, 2017.

Image used for illustrative purpose. A general view of the new Capital Residence residential buildings, in Egypt's new administrative capital, approximately 45 km (30 miles) north of the current capital Cairo, Egypt October 18, 2017.

REUTERS/Amr Abdallah Dalsh

Cairo – Mubasher: Castle Development, a subsidiary of Saudi-based real estate group ABC, has launched a commercial, residential, and medical project named East Side, the company’s CEO said on Monday.

Spanning 7,600 square metres, East Side has been constructed in mu23 area at the New Administrative Capital at a cost of up to EGP 800 million with a built-up area of 20,000 square metres, Ahmed Mansour added during a press conference held in Cairo.

The new project will be delivered in 2021, Mansour said, pointing out that the company is expected to achieve sales of EGP 1.2 billion from it.

In August, Castle Development announced the launch of Castle Landmark in the New Capital in collaboration with Misr for Central Clearing, Depository and Registry.

Castle Landmark, a full-fledged complex, was built over 41.5 acres (feddans) with EGP 5 billion in investments.

Translated by: Mai Ezz El-Din

Source: Mubasher Exclusive

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Real Estate