By: Abdullah Bedeir

Cairo – Mubasher: Contact Developments is planning to invest about EGP 700 million in a new project, spanning over an area of 3,000 metres, in the New Administrative Capital (NAC), the Chairman Ahmed Fekry said.

Scheduled for completion within three years, the 11-storey development will include commercial, administrative, and medical units, Fekry added in a press conference on Saturday.

The company is currently in negotiations to acquire a land plot in Down Town in NAC to build a 30-storey development over an area of 20 square metres, with sales targeted at EGP 3 billion.

Khalid El-Swaify, Vice Chairman and Managing Director of Contact Developments, affirmed the company’s plan to expand its investments in the Egyptian market, particularly in NAC, in 2021.