By: Abdullah Bedeir
Cairo – Mubasher: Radix Development is planning to establish a new project over an area of 7,500 square metres in the Down Town area in the New Administrative Capital.
The company aims to invest EGP 850 million in the project over a period of three years, including EGP 250 million in 2021 and EGP 350 million in 2022, the CEO of Radix, Ahmed Zaghloul, said in a press conference on Sunday.
The project, which will feature administrative, medical, commercial, and hospitality units, has targeted sales of EGP 1.5 billion, including EGP 300 million forecast to be generated in 2021, he pointed out.
The company entered into an agreement with the International Company for Engineering Consulting (IEC) to create the project designs, the Deputy CEO of Radix, Akram El-Sheikh, revealed.
Work is underway to obtain the licences and approval required for the project which will break ground in 2021, he added.
