Egypt’s New Event Developments launches $160mln Trave Business Complex in the New Administrative Capital

New Event Developments, a Yemeni-Egyptian joint venture, has launched TRAVE Business Complex project in the New Administrative Capital (NAC) at an investment of three billion Egyptian pounds ($160 million).

The project, located in NAC’s downtown area, would be developed over an area of about 4,900 square metres (sqm) and include 320 offices and 100 stores.

Chairman Hamid Alragwy told Zawya Projects that the 13-storey complex would be completed in 42 months.

He said the company has started enabling works for its 13-storey, 2.5-billion-pound ($133 million) H Mall in the NAC.

Alragwy said the mall will include 300 offices and 120 stores, adding that construction is scheduled to start after two months and complete after 30 months.

He said Archrete is the main consultant for both projects.

(1 US Dollar = 18.78 Egyptian Pounds)

One of the biggest real estate developments companies in the MENA region owned by a group of Arab investors, started more than 12 years ago in the United Arab Emirates, during which it built a strong portfolio in Abu Dhabi and other emirates.
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