PROJECTS: Egypt’s Aqar Masr Developments second project in the new capital

PROJECTS: Egypt’s Aqar Masr Developments second project in the new capital

Egyptian developer Aqar Masr Developments has launched its second project in the New Administrative Capital at an investment of about 600 million Egyptian pounds ($38 million), a top company official said. General Manager Bahaa Hefzallah told Zawya Projects that Gusko Centre mixed-use project is spread over an area of about 16,000 square metres, and includes offices, clinics, stores, and hotel apartments. He said the 4-storey project comprises of 73 stores, 33 offices, 33 clinics, and 26 hotel apartments. Cairo-based DMA is the lead consultant for the project. Hefzallah said they are planning to start construction by the second quarter of 2022 and complete in 42 months. Meanwhile, the company's first project in the NAC, residential compound, is 35 percent complete, and would be delivered by 2023. (1 US Dollar = 15.71 Egyptian Pounds) (Reporting by Eman Hamed; Editing by Anoop Menon) ( ) Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. .