Pyramids Real Estate purchases five lands in Egypt’s new capital

Egypt’s property developer Pyramids Real Estate had bought five land plots in the new capital for 800 million Egyptian pounds ($44.6 million), its chairman Hesham El-Kholy said on Sunday.

One of the lands will be for the company’s first residential flagship in the new capital, La Capitale Compound along with some administrative and commercial projects, El-Kholy said.

La Capitale is spanning over 56,000 square metres, with investments totalling 1.5 billion pounds, he told Amwal Al Ghad.

“We are negotiating with a real estate developer to execute La Capitale 3 on a space of 36 feddans in the new capital,” he said, adding that his company is responsible for developing and marketing the project