PROJECTS: Egypt's Pyramids Developments launches $1.6bln mixed-use project in the New Administrative Capital

Pyramids City will span an area of 140 acres

  
Image used for illustrative purpose. A model of a planned new capital for Egypt is displayed for investors during the final day of Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo.

Image used for illustrative purpose. A model of a planned new capital for Egypt is displayed for investors during the final day of Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo.

REUTERS/Amr Abdallah Dalsh
Egyptian developer Pyramids Developments announced the launch of Pyramids City mixed-use project in the New Administrative Capital at an investment of about 25 billion Egyptian pounds ($1.6 billion).
 
The developer said in a press statement that the 140-acre development would include stores, offices, medical units, as well as entertainment and hospitality components.
 
The statement said Concreative Consultancy is the engineering consultant and Mohamed Talaat Architects is the architect for the project.
 
The developer is negotiating with two companies to finalise the construction works, the statement added.
 
(1 US Dollar = 15.74 Egyptian Pounds)
 
(Writing by Eman Hamed; Editing by Anoop Menon)
 
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© ZAWYA 2021

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