Egyptian developer Capriole Group expects to deliver its 1.5-billion-Egyptian-pound ($96 million) Linx business tower in the New Administrative Capital (NAC) by the end of 2023, the company's chairman said.

Mohamed Mofeed told Zawya Projects that the construction started in January 2021, but the 10-storey tower will be officially launched in August 2021.

He added that the tower will have a built-up area of about 22,500 square metres, and include 331 clinics, offices and stores.

International Architecture & Planning APG is the main consultant.

Mofeed said Capriole Group is planning to invest 15 billion pounds ($956 million) in the real estate market in the next five years especially in the NAC.

Last year, the Group launched the first branch of its 1-billion-pound ($64 million) Aspire Smart Schools project in New Cairo with British curriculum.

(1 US Dollar = 15.69 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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