Cairo - Mubasher: Taj Misr Developments has launched a commercial project with a total investment of EGP 1.5 billion in Egypt's New Administrative Capital, the company's Chairman, Mostafa Khalil announced on Tuesday.

This announcement coincides with the convention of Cityscape Egypt Exhibition, set on 4-7 November.

Khalil referred that the company seeks to earn EGP 300 million from the commercial project, spanning over 10,450 square metres and including 160 commercial units, during the exhibition.

The chairman further remarked that the company plans to achieve EGP 200 million sales from Dejoya urban project in the New Administrative Capital.

Spanning over 23 acres, the EGP 2 billion urban project includes around 32 residential buildings and a shopping mall and is scheduled to be completed after three years.