Egypt’s newly-founded investment and urban developer, Paragon Developments says it has launched its flagship Capstone Cliff Residence in Sheikh Zayed City, at the outskirts of Cairo.
Spanning over 88,000 square metres, the new project is with investments worth 1.7 billion Egyptian pounds ($94.8 million), the company’s chairman Mohamed Wageh said on Monday.
“This project is being designed by a number of well-known consulting offices inside and outside Egypt,” Wageh added. The offices include Egyptian Sabbour Consulting and UDAAR for Engineering, Consultancy, and Technology Solutions.
Mohamed Abdel Mordy, head of commercial sector at Paragon, said that Capstone Cliff Residence is located at the highest point in Sheikh Zayed City, at 220 metres above sea level.
Capstone Cliff Residence will include units 600, Abdel Mordy said, adding that Paragon provides different facilities in payment plan to be suitable for all customers’ purchasing powers.
“The project’s built-up area represents 30 percent and the rest of the space is being allocated for landscaping,” he said. Capstone Cliff Residence is set to be delivered by mid-2021.