Egypt’s Al Bostany Real Estate Development Company intends to implement a new residential and administrative project in Degla Maadi, east Cairo, at an estimated investment value of EGP 200 mn, Invest-Gate reports.

The new project is scheduled to be marketed during H2 2019, Mohamed Al Bostany, the company’s chairman, said on the sidelines of a recent Iftar event by Al Bostany.

As for the Medical Center project in New Cairo, comprising medical clinics, radiation centers, analytical laboratories, and administrative units, Al Bostany revealed that 50% of the project was marketed at a total cost of EGP 250 mn.

About 70% of the project has been constructed, the chairman confirmed, noting that the company will direct EGP 150 mn worth of investments to finalize the project’s implementation by year-end.

Al Bostany explained that Medical Center is being developed at a prime location in New Cairo, close to Rehab City.