More than half of the 33 floors of office space in the $347 million complex had been sold or leased four months ahead of completion in April 2003. The Nile City complex is 43.7 per cent owned by Orascom for Investment & Development, which has secured some 14,398 square metres of office space for its subsidiaries OCI and Orascom Telecom (OT).
The other main shareholders in the Nile City Investment Company are EFG-Hermesand Eagle Overseasand Gazelle Limited, both offshore vehicles for Gulf investors. Besides Orascom, registered tenants for office space in the complex include MobiNil, which will occupy about a fifth of the 95,434 square metres of available space, Commercial International Investment Company (CIIC)and Egyptian Cement Company.
The towers sit on top of a 150,000-square-metre podium containing retail space and four levels of underground parking for 2,000 cars. A 500-room Hyatt hotel is planned for a later phase of the project.
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