By: Abdullah Bedeir

Cairo - Mubasher: Nile Developments aims to invest EGP 1.5 billion in a new project in the New Administration Capital's (NAC) Downtown area.

The project, scheduled for completion in four years, will feature 1,000 hospitality and commercial units over 18,000 square metres (sqm), the company's Chairman, Mohamed Taher, said in a press conference. 

The property developer has achieved EGP 1.5 billion in sales from the project which is expected to generate EGP 2.5 billion by the end of 2021 and EGP 4.5 billion in total, Taher added. 

The company hired Salama Structural Engineers (SSE) to act as a consultant of the project and Hany Saad Innovations Design & Architecture (HSI) for the interior design. 

Contrack Facilities Management, a subsidiary of Orascom Construction, was selected to provide integrated facility management solutions for the project. 

Translated by: Zeinab Adel