Egyptian developer DIG has officially launched its 3.4 billion Egyptian pounds ($67 million) Track Rev mixed-use project in the New Administrative Capital (NAC), the company's chairman said.

Hussein Salah told Zawya Projects that construction of the 12-storey project is 30 percent complete.

Located in NAC’s Downtown area, Track Rev spans an area of over 4,000 square metres (sqm) and includes commercial, medical and retail components.

Salah said they have allocated EGP 1.5 billion ($30 million) for construction of their ongoing NAC projects during the current year.

DIG has completed 40 percent of Track10, Track12, Track14, Track20, Track15 in the Downtown area.

(1 US Dollar = 50.96 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.