SIAC Holding to inaugurate Magra Complex in Egypt mid-2018

Egypt’s SIAC Holding Development Group plans to inaugurate its administrative flagship Magara Complex in Sheikh Zayed City, at the outskirts of Cairo, by mid-2018, said chief business development officer Ahmed Azmi on Monday.

The project, which will include a number of administrative and housing units, is with total investments approaching 3 billion Egyptian pounds ($170.1 million), Azmi further stated.

“SIAC owns 50 percent of the project, which is one of the major administrative and commercial complexes,” the Egyptian official said, referring that it is established over 66,000 square metres.

“The commercial buildings are carried out on a space of 3,000 square metres,” Azmi noted, clarifying that his company achieved works estimated at 4.5 billion pounds during 2017.

In addition, Azmi added that SIAC seeks to deliver 8 giant projects within this year, as part of the company’s portfolio, whereas it signed contracts to execute a bunch of real estate flagships and industrial works during last year.