Egyptian developer Ontario Developments is planning to launch mixed-use project in New Cairo in the coming few months at a total investment of 400 million Egyptian pounds ($13 million), the company's CEO said.

Mahmoud Hamed told Zawya Projects that the four-storey yet-to-be-named project comprises of shops, offices, and clinics, spread over an area of 2,500 square metres (sqm).

He added that they have appointed Art Line group as the main consultant and MRB a facility and operations manager for the project.

He added that they are planning new medical project in New Cairo, a coastal resort in New Alamein city, and a residential compound in the New Administrative Capital by 2024.

Ontario Developments is currently building Maple Business Complex in NAC. The 12-storey project housing offices, shops and clinics is scheduled to be completed by 2026.

(1 US Dollar = 30.90 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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