(Project value corrrected in first paragarph and Head Line) 

Egypt's The Marq Developments announced on Wednesday the launch of its 2-billion Egyptian pound ($127 million) WaterMarQ residential project in New Cairo. 

Chairman Amr Badr said the 100-villa project would be developed in two phases and delivered after two years. 

He added that the company is planning to launch a 50-acre project in North Coast in the coming months. 

The WaterMarQ is the company's second project in New Cairo after The MarQ project in Fifth Settlement.  

The developer said in a related statement that it is also looking at West Cairo, Galala City, Ain Sokhna and New El-Alamein for future projects. 

(1 US Dollar = 15.70 Egyptian Pounds) 

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021