Castle Development has announced that 85% of construction on the first phase of its Castle Landmark project in the New Administrative Capital (NAC), including 476 units, has been completed.
The company added that 35% of the project’s second phase has been completed, while 5% of phase three has been finished. The digging process has been completed in the fifth phase.
During a site visit for journalists on Sunday, Castle Development CEO Ahmed Mansour said that the delivery of the first phase should take place in August 2022. Meanwhile, the second phase is scheduled to start from the first quarter (Q1) of 2022, and phase three after six months from phase two. It is planned that the full project will be delivered by the end of 2024.
Mansour said, “We had several challenges during the last period due to the novel coronavirus (COVID-19) crisis and its effect on all projects, however, we focused our efforts towards Castle Landmark to continue the construction plan.”
“Here we are today sharing with our clients the progress we achieved hoping to meet our clients’ expectations, and to contribute positively in the Egyptian government’s comprehensive urban plan,” he added.
Castle Landmark has invested EGP 3.7bn into the project, which has been introduced as an integrated, smart residential compound, which runs on solar energy that feeds 70% of its overall area.
Ideally located in the R7 area of the NAC, 81% of the project’s landscape is taken up by green areas. This allows residents to enjoy the peaceful suburban lifestyle adjacent to the city’s Green River over 43 acres.
Castle Landmark includes the Castle Gate mall, which is constructed over 20 feddan, and features 196 administrative and commercial units. Work has started on Castle Gate, with OKOPLAN Engineering Consultations contracted by Castle Development to design the Mall.
In addition to this, the company is developing another project called East Side building, which will receive investments of EGP 800m. The digging phase has already finished and the building is being constructed over 7,600 sqm.
The East Side includes nine floors, each containing 23 units. Of these, three floors will be commercial, whilst two will be devoted to medical units, and the rest are administrative.