Work at the “The City” project in the New Administrative Capital is progressing well, according to the time schedules agreed upon with the Administrative Capital for Urban Development Company, bringing the project to record construction rates, amounting to 55% of the total project, said Mohamed Lashin, Board Chairman of Master Group Developments.
He added during a press tour that the LE7-billion project is spread over an area of 54 acres, comprising 2,528 residential units, medical centre, mall and club.
Including units with different spaces that fulfill all customer aspiration, 80% of the residential part of the project is now sold, he said, pointing out that they are planning to deliver 700 units by June 2024.
“The whole project would be completed by the end of 2026,” he added.
Lashin noted that the company is now preparing to launch the Allegra commercial medical project during its participation in the activities of the Cityscape exhibition.
It also arranges to contract with one of the largest Egyptian companies, mastered in managing medical projects, to run the medical building in the project, which is located on a number of the main axes in the R7 area, and contains an administrative and commercial part, he said.
Lashin noted that the Master Group has developed new plans and strategies for the company’s work after thorough study and research of the market to enhance competition and confidence among customers, pay attention to the real estate product provided to the customer and achieve the maximum possible benefit for the company’s work during the coming period.
This, he added, goes in tandem with the company’s strength and ability through which it was able to achieve large implementation rates in the project at record time and to start preparations for new projects in very distinct areas, the details of which will be announced soon.