PHOTO
Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.
Cairo – Zodiac Development has signed a contract with INMA Property Management to manage and operate Mizar project, the company’s first project in the New Administrative Capital (NAC), in addition to providing consultancy services and preparing market analyses on the NAC’s Downtown area.
The deal was signed by the Chairman of Zodiac Development, Hassan Hassanein, and the Vice Chairman of INMA, Sherif Noaman, according to a statement.
Mizar, the company’s first project in the New Capital, extends over 2,650 square metres (sqm) with a built-up area of 16,500 sqm and features commercial, administrative, and medical properties. It includes ground and 12 floors with investments of EGP 400 million, Hassanein said.
The company is set to launch its second project in the NAC’s Downtown, which would be a commercial-administrative-medical project, he added.
Zodiac Development CCO's Ahmed Fares said that the Mizar project is scheduled for delivery starting from 2024.
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