Egypt’s Royal for Real Estate Development has uncovered establishing a mixed-use project in the New Administrative Capital (NAC), dubbed “Capital Prime,” with investments worth EGP 500 mn, Invest-Gate reports.

Karim Shaalan, the company’s head of commercial sector, recently told reporters that the project spans across 6,000 square meters in NAC’s MU23 district, with a built-up area making up 30% of total area. It comprises an array of commercial, administrative, and medical units, as well as, 24 serviced apartments.

Commercial units range in areas between 34 to 1,000 square meters, while those of medical and administrative units vary from 49 to 1,000 square meters, Shaalan explained. He revealed that the developer plans to begin Capital Prime’s implementation work as soon as possible, which is expected to take three years, after obtaining building permits in the near future.

“Royal has contracted with RFA-raeffahmi architects to design the project with a single load system, which allows all units to be a front to the project. It will also feature Black Crystal, which will be an icon and a trademark of NAC,” he elaborated.

Meanwhile, Shaalan noted, “The sheer volume of development projects in NAC encourages all investors to take part in this distinguished national project,” underlining, “The continuous follow-up on projects implemented within the new capital will push developers to keep pace with the implementation speed that has been undertaken by the state.”