Egyptian developer MRS Developments has launched its 3 billion Egyptian pounds ($64 million) Viale mixed-use project in Obour City, the company’s chairman said.

Sary Mostafa told Zawya Projects that the 43,000-square-metre (sqm) development will comprise 558 residential units across 19 buildings, each rising six storeys.

The project also includes a 6,000-sqm commercial mall featuring offices, retail outlets and medical clinics.

Mostafa said Hafez Consultant has been appointed as design and engineering consultant, MARS for Smart Solutions will deliver the project’s smart systems, while Council Masters will oversee operations.

Construction is expected to be completed within three years, he added.

Mostafa also revealed that MRS Developments is planning further expansion in East Cairo, without providing additional details.

(1 US Dollar = 46.98 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@lseg.com)

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