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Company is targeting $1.8bln in sales revenue from the mixed-use project
Egypt’s Roya Developments has announced its new project ‘The Big Business District’, located in Fifth Settlement, New Cairo.
The mixed-use project, spread over an area of 38,184 square metres (sqm) with a built-up area of around 90,500 sqm, will feature shops, offices, medical and hotel units.
Mohamed Adel, CEO of Roya Developments told Zawya Projects that the company is targeting sales worth 60 billion Egyptian pounds ($1.9 billion) from the project but didnt disclose the total investments.
He added that the company has contracted OBMI, YBA, Ace, Savills and The Board Consulting to provide various services for the project.
He said the project comprises 6 phases with the first phase planned to be delivered by the first quarter of 2027.
Moharram Bakhoum has been awarded the mandate to provide design and engineering supervision and project management services for the project.
Roya Developments land portfolio is estimated at about 10 million sqm, and includes Stone Park and Hill project in New Cairo, Sokhna Hills in Ain Sokhna and The Sol Hills project on the North Coast.
(1 US Dollar = 30.90 Egyptian Pounds) |
