Egyptian developer Centerpoint Development plans to start construction of its newly launched Harmony Business Complex, located in the Downtown area of New Administrative Capital, in the first quarter, the company's chairman said.

Wael Ramadan told Zawya Projects that he aims to start constructing the 400-million-Egyptian-pound ($26 million) commercial project before the end of March. 

He said that the 11-storey, 298-unit complex would be developed over 2,704 square metres and feature stores and offices.

Archrete is the engineering consultant, MRB is the facility manager, and ProMEP is the electromechanical consultant for the project.

Ramadan said the project would be completed in four years.
Board member Saeed Hassan said Centerpoint is planning to invest in hospitality projects in the future, adding that the company's 45-year experience includes residential, commercial, and hotel projects in the Fifth Settlement, the North Coast, and Ain Sokhna.

(1 US Dollar = 15.71 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)