Capital Link Developments has announced its contract with Master Link for Construction to undertake construction work in the first phase of the Kardia project in the New Administrative Capital (NAC) at a cost of EGP570 mn, Invest-Gate reports.

The contract signing took place in the presence of officials from both companies, with Ashraf Badie, Chairman of Capital Link Developments, and Ahmed Youssef, Chairman of Master Link for Construction, signing the agreement.

Badie stated that the contract encompasses the implementation of works in the first phase of the Kardia project, with completion scheduled for April 2025.

This contract aligns with the company’s commitment to swift implementation and adherence to high-quality standards, ensuring the project is delivered on time. The objective is to provide customers with an integrated and sophisticated urban community that fulfills their aspirations and offers a serene lifestyle within the project.

He further explained that the Kardia project is situated in the R8 area of the NAC and encompasses residential, commercial, and administrative components, along with integrated services, requiring a total investment exceeding EGP5 bn.

The project spans an area of 22 feddans, with a built-up area of approximately 184,000 sqm. It comprises 951 residential units across the ground floor and seven additional floors, with plans to commence project handovers in mid-2026.