Ministry approves Ardic's $848m New Minia project in Egypt
Planning and Architecture Office is working as designer for the mixed-use scheme that will be built in six phases
Egyptian real estate developer Ardic is set to build an $848m mixed-use project featuring a hotel, a shopping mall, and schools after being granted approval from the country's Ministry of Housing, Utilities and Urban Communities to develop the project that is set to finish by 2026.
In press release published on portal Zawya, Ardic said its New Minia development would be spread across 125ha of land, and local firm Planning and Architecture Office would head up its design and architectural plans.
Work on the project will be rolled out in six phases and also include residences, a university, a hospital, and medical and office buildings.
Ardic said the residential component would make up 60% of the entire project.
Chief executive officer of Ardic, Ashraf Dowidar, said the New Minia mixed-use project was in line with Egypt Government’s strategy to develop Upper Egypt through integrated urban communities.