Egypt’s property developer Talaat Moustafa Group Holding (TMGH) plans to launch a new fully-fledged urban flagship in the county’s new administrative capital within three months, said its chairman Talaat Moustafa on Monday.
The flagship will be built over 500 feddans.
The company is currently negotiating to obtain more land plots, Moustafa further told Amwal Al Ghad.
The Egyptian official added that his company has recently signed a contract to purchase the feddans for 4.4 billion Egyptian pounds ($249.4 million).
“Works on the flagship will be completed within seven years,” Moustafa said.