Egyptian developer Royal Developments has launched Monark residential project, spread over an area of 40 acres in Mostakbal City, East Cairo, the company CEO said.

Karim Shaalan told Zawya Projects that the project, which comprises of 1,200 apartments, villas, and a mall, has a development cost of 6 billion Egyptian pounds ($194 million).

He said YBA is the main consultant for project, which will be completed in four phases.

He added that the company is targeting West Cairo and North Coast for new projects but didn’t elaborate.

(1 US Dollar = 30.90 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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