Egyptian developer MG Developments is developing two commercial projects in the New Administrative Capital (NAC), the company Chairman said.
Mohamed Metawee told Zawya Projects that 1.2 billion Egyptian pound ($75.5 million) Promark building will have a built-up area of about 25,000 square metres (sqm) and includes 240 offices and stores.
ECG Engineering Consultants Group is the main consultant for the seven-storey building.
The second project, The Mark, would be launched in the third quarter, Metawee said, adding that the 350-million-pound ($22 million) project would have a built-up area of 15,000 sqm incorporating 220 units for offices, stores, clinics, and a hotel apartment section.
Both projects would be completed in 2024, he said.
Metawee said future projects include residential and mixed-use developments in the NAC, and a 50-acre residential project in Alamein City.
(1 US Dollar = 15.68 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
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