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Egyptian property developer Mountain View is planning to invest a total amount of 6 billion Egyptian pounds ($196 million) during 2023, it said in a press statement.
The company will use the money to accelerate the pace of construction in ongoing residential projects, launch new commercial projects and explore opportunities overseas, the statement said.
The statement quoted Chairman Amr Soliman as saying that the company will aim to deliver the largest number of units in 2023.
Mountain View had delivered 1,500 units in 2022 and intends to deliver more than 2,000 units in 2023.
The company achieved sales target of EGP 31 billion ($1 billion) in 2022 riding on new projects launched in East and West Cairo and Ras El Hikma.
(1 US Dollar = 30.60 Egyptian Pounds)
(Writing by Eman Hamed; Editing by Anoop Menon)
