Egypt's Capital for Real Estate Investment and Contracts has established a new firm, namely Capital Commercial to market administrative and services projects, said its chairman Farouk Rashad on Tuesday. Capital Real Estate is one of the growing companies in the field of construction and building in the Egyptian market. It has an experience needed for building and promoting real estate projects. "Capital Real Estate achieved sales worth 700 million Egyptian pounds ($39.6 million), including 200 million pounds for administrative, commercial, and medical flagships," Farouk further stated. Mohamed Rashad, Capital Commercial's head, added that his company is set to promote two flagships in the county's new administrative capital, 40km east of Cairo, and Sixth of October cities. As for the first project, it is located in new capital over 5,000 square metres, Rashad said, referring that the project is to include administrative and medical activities. "The second project is located in Sixth of October City," he stated, clarifying that Capital commercial's activities include a bunch of administrative, commercial, medical, and industrial flagships.
