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Castle Development launches $46mln project in Egypt’s new capital

Castle Development launches $46mln project in Egypt’s new capital

Cairo:  Castle Development, a subsidiary of Saudi-based real estate group ABC, has launched a commercial, residential, and medical project named East Side, the company’s CEO said on Monday.

Spanning 7,600 square metres, East Side has been constructed in mu23 area at the New Administrative Capital at a cost of up to EGP 800 million with a built-up area of 20,000 square metres, Ahmed Mansour added during a press conference held in Cairo.

The new project will be delivered in 2021, Mansour said, pointing out that the company is expected to achieve sales of EGP 1.2 billion from it.

In August, Castle Development announced the launch of Castle Landmark in the New Capital in collaboration with Misr for Central Clearing, Depository and Registry.

Castle Landmark, a full-fledged complex, was built over 41.5 acres (feddans) with EGP 5 billion in investments. Source: Zawya

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