Egyptian developer Maqam for Urban Development has launched Optima Business Complex project in the New Administrative Capital (NAC) at an investment of 500 million Egyptian pounds ($16 million), the company's chairman said.

Sherif Salem told Zawya Projects that the 13-storey commercial complex, spread over an area of 2,400 square metres, is located in the NAC’s downtown area and comprises of 32 stores and 157 offices.

He said piling works have started and the delivery would begin by January 2026.

Salem added that they have appointed DMA as main consultant for the project.

He also disclosed that they are planning residential project in the NAC and a resort project on the North Coast in the coming period.

(1 US Dollar = 30.84 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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