Egypt’s Arkan group is planning to start construction of three projects representing a combined investment of 490 million Egyptian pounds ($31 million) in the first half, the company's chairman said. 

Emad Eissa told Zawya Projects that the projects include a mall and medical centre in Sheikh Zayed City and a school in 6th of October City. 

The 150-million pound ($9.6 million) mall would be completed by the second quarter of 2024, the Arkan Chairman said but didn’t share the completion timeline for the 180-million-pound ($11.5 million) medical centre project, which he said would be developed as a joint venture. He added that the 160-million-pound ($10 million) Arkan Future school would be completed by 2023. 

Eissa said future projects include a 200-million-pound ($13 million), 70-villa residential project in the 6th of October City, currently awaiting ministerial approval, and a 300 million pound ($19 million) mixed-use project in the New Administrative Capital.  

(1 US Dollar = 15.67 Egyptian Pounds) 

(Reporting by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com

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