Aug 12 2022
Mabany Edris to Roll Out Integrated Project in New Assiut
Egypt-based real estate developer Mabany Edris plans to launch a fully-integrated development project in New Assiut, Upper Egypt, Invest-Gate reports.
Extending over 130,000 square meters, the project will be developed with total investments of EGP 1.25 bn, the company’s chief commercial officer (CCO) Ayman Nawar said in a press release on February 19.
With a built-up area representing 20% of its site, the compound will include twin houses, townhouses, and stand-alone villas with areas ranging from 200 to 350 square meters, in addition to hotel apartments, he noted.
Clients will also relish integrated services such as a clubhouse that will include a restaurant, a cafe, three swimming pools, a meeting area, and a kids’ garden, besides retail outlets for top brands, the press statement added.
Nawar highlighted that the company has finalized and submitted the project’s engineering drawings and designs, carried out by one of the top consulting offices, to the New Urban Communities Authority (NUCA) for revision to get necessary licenses and ministerial approval.
Aiming to cater to the various needs of Upper Egypt’s clients, the company offers flexible payment plans with installments over five years, the CCO elucidated.
In late 2019, the company’s CEO Mohamed Edris noted that the project will be implemented over four or five phases in four years