PROJECTS: Egypt's Mountain View plans two new mixed-use projects

Developer to deliver 380 units of ICity in Q4

  
Image used for illustrative purpose. A general view of residential buildings under construction in El Katameya district of New Cairo March 30, 2013.

Image used for illustrative purpose. A general view of residential buildings under construction in El Katameya district of New Cairo March 30, 2013.

REUTERS/Amr Dalsh

Egyptian developer Mountain View is planning to launch two new mixed-use projects in 2021, the company's chairman said.

Amr Soliman told Zawya Projects that the two projects would be located in the North Coast and New Cairo respectively but didn't elaborate.

He said the company will deliver 380 units of its ICity mixed-use project in the 6th of October City in the fourth quarter of 2021.

The 470-acre, five-phase project comprises of 14,000 units, and would be completed over a 10-year period at a total investment of about 30 billion Egyptian pounds ($2 billion).

Mountain View will be investing 4.2 billion pounds ($267 million) in their projects during 2021, he disclosed.

(1 US Dollar = 15.71 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

© ZAWYA 2021