Egypt's Catalyst Developments to deliver projects worth $287mln in 2021

Egypt - Catalyst Developments plans to deliver five administrative and commercial projects worth EGP 4.5 billion in New Cairo during 2021, Daily News cited Chairperson Moataz Abdel Shafi on May 3^rd.

Abdel Shafi noted that the company injected EGP 325 million investments in construction works in 2020.

He further noted that the company has a total portfolio of five administrative, commercial, and medical projects in New Cairo.

He added that the company studies investing up to EGP 3 billion in launching a new administrative offices project during the fourth quarter of 2021, in addition to other projects in 2022.

Abdel Shafi pointed out that the implementation rate at the Cairo Capital Center (CCC) project has reached 95%, noting that the project will be fully delivered in June.

As regards the two North Plus projects, the external and internal finishes, electricity, air conditioning, and fire networks, as well as all services for the project have been completed.

The trial operation of the project has begun, with distinctive brands being utilized in this regard.

As for Elegantry project, the units have been handed over to clients, and that the administrative and medical part of the project will be delivered and start operating in June 2021.

On the Business Plus project, all concrete works have been completed.

The Chairperson said that the first and second phases of the company’s Ozone project in New Cairo will be delivered in 2021.

Catalyst Developments’ total sales of its entire projects reached 86%.