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Egyptian developer Raaed Developments has launched ROOTS, its flagship project in New Sohag at an investment of 1.8 billion Egyptian pounds ($58 million), the company's chairman said.
The project spans an area of 87,000 square metres (sqm) and includes 33 residential buildings with a total of 496 units and 12 villas, Mohamed Khalafallah told Zawya Projects.
He said ROOT will also include retail, leisure and sports facilities, adding that the project will be completed in 30 months.
Sabbour Consulting is the design and construction supervision consultant for the project with Behairy Consulting Engineering providing support.
Khalafallah said the company is planning to launch three new projects in Sohag this year and will also launch projects in the New Administrative Capital but declined to elaborate.
(1 US Dollar = 30.92 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
