Egypt's El Mansour Development introduces TRUE project worth $44mln in investments

Construction work will begin in 2021

  
Image used for illustrative purpose. Cairo Skyline along Nile River. The bridge, the Nile river & the Corniche Street in central Cairo.

Image used for illustrative purpose. Cairo Skyline along Nile River. The bridge, the Nile river & the Corniche Street in central Cairo.

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El Mansour Development has introduced its TRUE project in the East Cairo district of Nasr City, worth EGP 700m in investments, according to the company’s Head of Sales Amgad Mansour.

Mansour said that the project, which represents the company’s latest real estate development, is an integrated service project and spans over ??9,900 sqm.

TRUE is comprised of a ground floor which will be developed into a commercial mall, and an 11 storey residential building featuring units of various areas ranging in size of between 75 sqm and 120 sqm.

Mansour said that the company will begin construction work on the project in 2021, with the development to occur over six phases. At the end of the construction, the project will feature a total of 692 residential units and 136 commercial shops.

He added that the project includes a large number of services, including the Infinity Mall, which is set to be the first of its kind in Nasr City. This comes in addition to a roof garden spread out over 6,400 sqm, an educational area for children, a barbecue area, a sports club, a nursery and a landscaped area of 2,400 sqm.

The company will provide various payment plans for the project, commensurate with the purchasing capabilities of a large segment of customers.

The average price per square metre stands at EGP 6,500, with an EGP 98,000 down payment required on properties, Mansour said.

He emphasised that the project fulfils all of its licences, which provides clients with an element of confidence and security when contracting to purchase a unit.

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