Egyptian developer Contact Developments has launched Quan Iconic Tower in the Central Business District of the New Administrative Capital at an investment of about 1 billion Egyptian pounds ($64 million), the company's managing director said. 

Khaled El-Siofy told Zawya Projects that the 25-storey mixed-use tower would have a built-up area of about 28,000 square metres and comprise 600 units for offices, clinics and shops. 

He said construction will start in January 2022 and finish in 30 months in three phases. 

Yasser El Beltagy Architects (YBA) is the designer, Sabbour Consulting is the engineering consultant, and MRB is the facility management contractor for the project. 

(1 US Dollar = 15.67 Egyptian Pounds) 

(Reporting by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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