Castle to launch phase II in Egypt new capital compound project in Dec.

Egypt’s Castle Development says it is planning to launch the second phase of its flagship Castle Landmark Compound in the country’s new administrative capital within next month.

The urban development company is seeking to achieve sales worth around 800 million Egyptian pounds ($44.6 million) from the second phase, said its chief executive Ahmed Mansour on Saturday.

“This phase will include 280 various units,” Mansour further told Amwal Al Ghad.

Located in the new capital’s seventh residential district, Castle Landmark is set to comprise 1,800 units that will be completely delivered within 2022, he said.

Castle Development Co. is currently negotiating with one of the developers to carry out a new project in Galala area in Red Sea on a space of 60 feddans, Mansour added.