Egypt's Zodiac Development launched on Sunday its Mizar Business Tower project in the Downtown area of New Administrative Capital at a total investment of 350 million Egyptian pounds ($22 million). 

Chairman Hassan Hassanen said the 12-storey project, spread over an area of 2,650 square meters, would house offices, shops and medical units. He added that the medical and commercial units would be offered for rent. 

The project would be completed in 2024, he said. 

YBA Architects is the tower’s design and engineering consultant while INMA Property Management will manage the tower’s operations. 

Hassanen said the company will launch a residential compound in NAC in the first quarter of 2022. He added that to date, Zodiac has developed 10 residential and commercial projects in Cairo with a combined worth of 2 billion pounds ($127 million). 

(1 US Dollar = 15.68 Egyptian Pounds) 

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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