By Hamed Mahmoud
Mohamed Lasheen, Managing Director of EG Master Group – Construction and Development Company – revealed that the investment volume of the company’s projects in the New Administrative Capital exceeds LE11 billion in the projects of “The City”, “City Oval” and “Oval Tower”.
The “Oval Tower”, the company’s third project in the New Capital, is set to be launched during the end of the first half of the current year. In statements to the press yesterday, Lasheen added that the “EG Master Group has a portfolio of lands exceeding 120 feddans and seeks to double it over the next few years”, pointing out that the company has conducted a set of feasibility studies of the promising investment opportunities in new cities that are in line with the state’s orientation and plans for urban expansion in all parts of Egypt, foremost among which is the Upper Egypt, RasSidr and New Alamein City.
Mohamed Mounir, Deputy Managing Director, said that the group seeks to open new external horizons through its subsidiary Oxford Company that is in charge of marketing the group’s real estate projects in Egypt and a number of Arab and European countries.
Having a branch in Dubai and another in London that helped the group export large part of its units and boost the rate of purchase from investors abroad by a ratio of 20 per cent within the New Capital projects, the group seeks to open new branches in both Kuwait and Saudi Arabia, Mounir said.
The EG Master Group includes subsidiaries for real estate development, project management and contracting, and is considered one of the first construction companies that entered the New Administrative Capital.
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