By: Abdullah Bedeir
Cairo - Mubasher: Marota Developments plans to establish a commercial project in the New Administrative Capital's Downtown area with target investments of EGP 1 billion.
Spanning over 5,250 square metres (sqm), the project has a building area of 9,446 sqm in the retail and restaurants area, the company's Chief Operating Officer (COO), Ashraf Diaa, revealed in a press conference.
The property developer purchased a land plot in the new capital from the Administrative Capital For Urban Development (ACUD) in August 2020, Diaa added, noting that the construction works in the project have started this week.
Raef Fahmi Architects has been selected to act as the architect consultant of the project, the COO pointed out.
For his part, the Head of Projects Management, Walid Selim, said that it is scheduled to start the project delivery within three years and a half.
Translated by: Zeinab Adel
