Egyptian developer Master Group announced the launch of a new mixed-use project in New Administrative Capital (NAC) at an investment of 4 billion Egyptian pounds ($129mln) investments.

The company's chairman Mohamed Lashin told Zawya projects that ‘City Oval The Club’ project spans an area of 30 acres in NAC’s R8 area.

He added that the project comprises of duplexes, apartments, a commercial hub and leisure facilities.

The developer had launched Allegra commercial project in NAC's R7 area in the fourth quarter of 2023 comprising clinics and retail units. He said that they have also completed 65 percent of the 54-acre The City project in the NAC.

(1 US Dollar = 30.95 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)


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