Egypt's MBG Development, part of Master Builder Group, will complete its 1.5 billion Egyptian pounds ($96 million) River Green medical complex in the New Administrative Capital (NAC) in 2024, the company CEO said.  

The 8-storey complex, designed EHAF Consultant Engineers, is the first medical centre in the NAC, Amr El Adl told Zawya Projects last week. 

He said construction has started in the first quarter, and the project would be completed by 2024. 

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Rendering of River Green, the first medical centre in Egypt's new capital. Image courtesy Cityscape Online

MBG Development’s medical projects portfolio includes International Medical Centre, Elite Medical Tower and Gehaan Medical Centre in Mansoura. 

A related press statement by the company said it will launch two new projects in the NAC in July. 

“We will launch a new real estate product in the NAC through two new projects in the Downtown area,” El Adl said in the statement. 

MBG’s new Chief Commercial Officer Kareem Mamoun added that both projects are in advanced stage of licensing and design approvals. 

The company is currently developing the 41-acre Pukka mixed-use project which includes 42 buildings, and commercial area spread over 20,000 square metres, the statement said. 

MBG has invested to date 7 billion pounds ($446 million) in real estate projects in the NAC and in the Delta region, according to the statement.

(1 US Dollar = 15.64 Egyptian Pounds)

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

(anoop.menon@refinitiv.com) 

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