Marseilia Group's Vice President for Commercial Sector Affairs Myssara Ashour told Thomson Reuters Projects that the project is in the design phase.
"The project is scheduled to be launched by the end of 2019. The construction work would be completed over a five-year period," he said.
He said the project, spread over an area of 42,000 square meters, would include residential buildings with 1,500 units, an office building and a hotel.
The developer is targeting to generate 50 percent of sales from overseas buyers, he added.
Ashour also disclosed that the company is in negotiations to set up a joint venture to develop a plot of land in the residential district of Egypt's New Administrative Capital but declined to elaborate.
Earlier this month, a Zawya report, quoting Amlak's statement to the Dubai Financial Market, said the home loans firm had made "significant progress" in obtaining approval from lenders for a restructuring of its debts with new agreement likely before the end of 2019.
(Reporting by Eman Hamed; Editing by Anoop Menon)
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