Mountain View has launched a new phase of iCity New Cairo over an area of 100 feddans in partnership with the Egyptian Ministry of Housing with investments worth EGP 8 billion.
The entire project, spanning over 500 feddans (2 million square metres (sqm)), has investments of more than EGP 65 million, the property developer’s Chairman, Amr Soliman, said in a press conference on Wednesday.
The project features 14,000 units, including 4,000 units in the first phase of which 600 units are being delivered and another 1,800 units are scheduled for delivery by the end of 2021, Soliman added.
Mountain View aims to generate EGP 12 billion in contractual sales from its projects over the course of 2021, he noted.
The property developer’s total investments amounted to EGP 221.7 billion for projects over a combined area of 2,227 feddans (9.35 million sqm) and with a total number of residential units of 39,000.
