Egypt's City Edge Developments announced on Monday the sales launch of Al Maqsad Residence, the company's first residential buildings project in the New Administrative Capital.
The company said in a statement that the residential project spans an area of 214 acres, and will also feature a mixed-use strip, offering retail and office units.
The launch was marked with a 10-year payment plan for COVID-19 frontline healthcare workers.
City Edge Developments Chairman Ashraf Salman
The statement quoted Chairman Ashraf Salman as saying that the payment plan "recognises their outstanding efforts" and is a "simple gesture of appreciation for those who put our health and well-being first."
The statement didn't share elaborate on project timelines or costs.
A 2 billion Egyptian pounds ($125.5 million) joint venture between the New Urban Communities Authority (NUCA) - Ministry of Housing and the Housing & Development Bank, City Edge has launched more than 10 projects in various parts of the country since its launch in 2017, the statement concluded.
(1 US Dollar = 15.93 Egyptian Pounds)
(Writing by Marwa Abo Almajd; Editing by Anoop Menon)
#Egypt #City Edge Developments #Real estate
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