El Mostakbal in talks with partner for New Cairo’s 150 feddans

Egyptian El Mostakbal for Urban Development is negotiating with a real estate developer to develop 150 feddans in Mostakbal City, New Cairo, its chairman Essam Nasef said on Monday.

The company had earlier signed two contracts with two property development firms; Misr Italia and Porto Group to execute a number of residential projects in Mostakbal City, with spaces of around 450 feddans, Nasef added.

“We signed agreements to develop about 3,000 feddans in Mostakbal City out of total 11,000 feddans that represent the city’s space,” he told Amwal Al Ghad.