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Egypt’s Attal Properties announced on Monday the official launch of its biggest residential project, ‘The 101’ in partnership with the Arab Contractors Company in New Cairo.
The project represents a total investment of around 25 billion Egyptian pounds ($524 million) and will span over 424,000 square metres (sqm) in Plot No. 1, located within Phase 1 of Mostakbal City.
Ahmed El-Attal, Chairman of El-Attal Group told Zawya Projects that the project will be delivered in two phases by 2030 with the first phase scheduled for mid-2028.
He said the project will offer maisonettes, twin houses, townhouses, and villas, recreational and sports facilities.
El-Attal said the project will target EGP40 billion ($839 million) in sales revenue.
He said only 30 percent of the project's area will be dedicated to buildings and residential units. The remaining 70 percent will be innovatively designed to incorporate water features, landscaping, and integrated services.
Ahmed El-Assar, Chairman of the Arab Contractors said the partnership with Attal Properties brings together the expertise, technical excellence, and strategic vision of both entities.
“We are committed to achieving tangible and innovative results that enhance our historical market position and serve the interests of our clients and partners," he said.
(1 US Dollar = 47.72 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
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