Castle to develop a commercial project in Egypt’s new capital

Egypt’s Castle Development says it is planning to develop a commercial centre project in the country’s new administrative capital, with investments of 800 million Egyptian pounds ($44.7 million).

Castle is a real estate company that focuses on developing high-value property, residential, commercial, and administrative projects in the local market and the gulf area.

Castle is currently negotiating with a Saudi Arabian retail investor to advise on the project, its chief executive Ahmed Mansour told Amwal Al Ghad on Saturday

“We had marketed around 60 percent of the first phase of Castle Landmark Compound for foreign customers,” Mansour said. The project is located in the new capital on a space of 41,5 feddans.

Castle Co. is also looking to open a new office in Kuwait by early next month, he said, adding that the company owns another headquarters in Saudi Arabia.