By: Abdullah Bedeir

Cairo – Mubasher: Namaa For Development & Real Estate Investment has launched EGP 2 billion project in the New Administrative Capital.

Named ‘Capital One’, the project is planned to be situated on 60,000 square metres with a built-up area of around 90,000 square metres, the company’s managing director Muhammad Al-Nawawi stated on Wednesday in a press conference.

The project is slated for delivery in 2023, Al-Nawawi revealed, adding that a part of the project will be added to the company’s income-generating real estate portfolio.

Moreover, the top official considers launching a real estate fund with a regular return to attract local and foreign investments to the sector in the coming period, Al-Nawawi said.