MG Developments announces signing a contract with Engineering Consultants Group (ECG) to monitor the implementation of ProMark Project in the NAC, Invest-Gate reports.

ProMark Project is a commercial administrative complex overlooking the central park and the square between the government district, banks, the parliament, the Central Bank of Egypt (CBE), the Egyptian Exchange (EGX), and the Opera House.

Aya El-Shenawy, head of commercial sector at MG Developments, says that contracting ECG falls in line with the country’s agenda to deal with consultants in new projects.

Mohamed Motawea, chairman of MG Developments, affirms that the company has completed 60% of the project. Motawea notes that the project’s total cost increased on the back of the latest global economic issues that raised the prices of construction material.

The chairman points out that the company is keen on delivering its project ahead the deadline.

In the same vein, El-Shenawy states that the company has injected near 50% of the its liquidity into the project.

ProMark Project spans over 8,836 meters, and the building acquires 25,000 sqm, and it is divided into two parking floors with a total area of 10,000 meters. The commercial building covers 5,000 meters and consists of the ground and the first floor. The following six floors consists of administrative offices, with a total area of 10,000 meters.