ICEC

Royal Gate to execute its first residential compound in Egypt’s new capital

Egypt’s Royal Gate for Housing Development says it plans attain a land plot to start executing its first fully-fledged residential compound project in the country’s new administrative capital, 40km to the east of Cairo, within 2018.

The company also seeks to invest 150 million Egyptian pounds ($8.4 million) in a number of new standalone real estate flagships in El Shorouk and New Cairo cities within this year, said its managing director Mohamed Omar on Sunday.

“We (Royal Gate) targets carrying out a bunch of administrative and medical flagships in Badr and El Shorouk cities,” Omar further added.

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