PROJECTS: Egypt's Capital Hills Developments to launch mixed-use project in the New Capital

$159mln project to include shops, offices and hotel apartments

  
Image used for illustrative purpose. An aerial view of new housing complexes in a suburb of Cairo is pictured through the window of a plane, Egypt December 16, 2017.

Image used for illustrative purpose. An aerial view of new housing complexes in a suburb of Cairo is pictured through the window of a plane, Egypt December 16, 2017.

REUTERS/Amr Abdallah Dalsh - RC1169D2CE00

Egyptian developer Capital Hills Developments intends to launch a mixed-use project in the New Administrative Capital (NAC) at an investment of about 2.5 billion Egyptian pounds ($159 million), the company's Chief Commercial Officer said. 

Ahmed Azmi told Zawya Projects that the project, spread over an area of 10,000 square metres in NAC’s downtown area, would be launched in the fourth quarter.  

He said the 15-storey project, being designed by Cairo-based DMA, would include offices, stores and hotel apartments. 

He added that the project would be delivered in four years from the start of construction. 

(1 US Dollar = 15.72 Egyptian Pounds) 

(Reporting by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com

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