Egyptian private real estate developer Zaeem Holding announced on Monday the launch of Lora, its new residential project in Badr City at an investment of 1.5 billion Egyptian pounds ($31 million)

Spread across 8.5 acres, the self-funded project will feature 400 apartments, with construction set to begin in November and expected to take three years to complete, company chairman Abdulrahm Alzaeem told Zawya Projects.

ECB is the main consultant for the project, he said, adding that compound’s design incorporates sustainability elements including smart glass window integration for energy efficiency and water features.

Alzaeem said the company plans to launch two additional compounds in Shorouk City within the next two months covering 12 and 18 acres, respectively. Additionally, the company intends to expand into educational developments in East Cairo.

(1 US Dollar = 48.70 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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