Egypt’s Mountain View launches $4.5bln housing project

Egypt’s Mountain View for Development and Real Estate Investment launched a giant residential city project worth 140 billion Egyptian pounds ($4.5 billion) on Friday.

The company said the city is called Aliva Mountain View City and is located in Mostkabal City Community in New Cairo.

The city spans over an area of 2.68 million square metres, and holds around 12,000 houses. It is the largest city to be owned by a local developer in that area.

“This project confirms our leadership of the real estate market in Egypt,” Chairman Amro Suleiman said.

Suleiman further added “it presents a new form of integrated urban communities to become a model for other developers not only in East Cairo but in the real estate market in Egypt and the entire Middle East.”