Master Group in­vests EGP 3.5bn New Cap­i­tal’s ‘The City’ project

The Daily News Egypt - - Business -

Hamdy in­di­cated that Master Group ob­tained the min­is­te­rial ap­proval for the project.

The en­ter­prise in­cludes 2,700 units with spa­ces start­ing from 140 sqm to 211 sqm and en­com­passes 8 vil­las, he elab­o­rated.

Ad­di­tion­ally, he re­marked that the project com­bines a three­floor com­mer­cial mall on 2 acres.

Over and above, the com­pany owns ‘The City Val­ley’ project on 63 acres, with 70% of the project area ded­i­cated for vil­las, 25% for apart­ments, 5% for ser­viced apart­ments, as well as three palaces, with 1,500 sqm for a sin­gle palace, re­vealed Hamdy. Fur­ther­more, ‘The City Val­ley’ project has a com­mer­cial sec­tion.

The en­deav­our’s in­vest­ments are worth EGP 3.5bn,and that the com­pany did not yet start mar­ket­ing it of­fi­cially, he dis­closed.

“We plan to com­plete the mar­ket­ing of ‘The City Val­ley ‘project by the end of the com­ing year, with tar­geted sales of EGP 5bn,” Hamdy con­cluded.

The City is lo­cated on 54 fed­dans

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