Egypt's Khaled Sabry Holding Real Estate Development Company has announced its second commercial project in the New Administrative Capital (NAC), after the 500-million-pound Ronza Tower ($32 million).  

The developer has launched 750- million-pound ($48 million) Rayan Tower, spread over an area of more than 3,000 square metres, in NAC’s Central Business District.  

Company Chairman Khaled Sabry told Zawya Projects that the 14-storey tower has been designed by Hafez Consultants.  

He said the tower will house medical, office, retail, and hotel units. 

“Construction will start by the third quarter of 2022 with delivery scheduled in four phases by end-2025,” he said. 

Sabry added that the company has sold 95 percent of the 10-storey, 220-unit tower Ronza Tower. The project, located in NAC’s downtown area, will house office, retail and hotel units. 

“Hafez Consultants is completing the detailed design of the project. Construction will start by the second quarter of 2022 and be completed by the fourth quarter of 2025," he disclosed. 

(1 US Dollar = 15.70 Egyptian Pounds) 

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com

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