Ahmed Zaghloul, the CEO of Radix Development, has announced that the company has obtained the ministerial decision for the Ray Residence project in the New Administrative Capital (NAC), Invest-Gate reports.

The project’s general plan was previously approved by the Administrative Capital for Urban Development Company (ACUD).

Zaghloul highlighted that 2023 is a busy year for Radix Development, as it marks the launch of their latest project, the Ray Residence Compound in the R8 area of the NAC. The company is also participating in various local real estate and investment events, as well as international exhibitions.

The Ray Residence Compound aims to be a distinguished residential project in the R8 area, designed to meet the needs of its residents in the most convenient way possible while providing a wide range of services.

Akram Al-Sheikh, Executive Vice President of Radix Development, added that obtaining the ministerial decision is a significant strategic goal for the company this year. They have also applied for a permit to begin drilling work, emphasizing their commitment to starting construction as soon as possible in order to adhere to the project schedule.