Zaytoun Development has signed a partnership contract with Concept for Architecture and Planning (CAP) to act as a consultant for the former’s projects.
On the sidelines of the signing ceremony, Zaytoun Development has announced the beginning of construction works at two real estate projects in the New Administrative Capital (NAC), with a total investment exceeding EGP 1bn.
Chairperson of Zaytoun Development, Ahmed Zaytoun, said the company will begin the construction of both projects this month, and that they will be delivered by the end of 2022.
He noted that the first project, Inizio, is located in the Financial District in the NAC. The project comprises medical and administrative units with a total investment cost of EGP 500m. The project’s gross sales will exceed 10,000 sqm, with unit spaces ranging between 34 and 1,268 sqm.
As for the second project, Za Mall, it is located in NAC’s Downtown area. It is a commercial project with an investment cost of EGP 500m. The project’s selling area exceeds 7,000 sqm, with unit spaces ranging between 23 and 1,000 sqm.
Zaytoun expected the market demand will recover and the scope of investments in the NAC will increase in the coming period, in conjunction with the state’s plans to transfer ministries and government agencies to the NAC’s Government District.
Meanwhile, CAP has completed a wide range of projects in Egypt and the MENA region with a total business value of more than $7bn. CAP has also designed more than 350 projects in 5 countries and 27 different cities.