11 June, 2019

Egyptian developer plans 40-acre residential development in West Cairo

Mabany Edris to deliver ‘The Block’ commercial complex in H2 2020

Image used for illustrative purpose. Construction machines and workers are seen in Egypt's new administrative capital, approximately 45 km (28 miles) north of Cairo, Egypt October 18, 2017.

Image used for illustrative purpose. Construction machines and workers are seen in Egypt's new administrative capital, approximately 45 km (28 miles) north of Cairo, Egypt October 18, 2017.

REUTERS/Amr Abdallah Dalsh

11 June 2019
Egyptian developer Mabany Edris is planning to develop a 40-acre integrated residential project in West Cairo on the Egypt-Alexandria desert road, the company said in a press statement.

The statement quoted CEO Mohamed Edris as saying project would be developed in partnership with fellow private sector companies with land acquisition procedures currently underway with the Abu Rawash industrial and investment zone authority in the final stages.

He said the company is planning a residential project in New Assiut City and is in negotiations for the same.

The statement also noted that the developer is planning to complete its 200 million Egyptian pounds ($12 million ) 'The Block' commercial complex in the Sixth of October City in the second half of 2020.

(1 US Dollar = 16.75 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)


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