Master Builders Group (MBG) celebrated Saturday launching its new flagship Pukka in Egypt’s New Administrative Capital for sale of its first phase, which includes 1,500 units.
Master Builders Group expects sales worth one billion Egyptian pounds from the first phase of the project, its chairman Mahmoud Al Adl said.
The company is one of the few companies that won land from the New Administrative Capital Company to develop projects in the New Administrative Capital.
Furthermore, the company has acquired the ministerial approval for project implementation.
Pukka is the company’s newest project in the new capital and it is built over 40 feddans. It consists of 50 buildings and 1,500 units.
The investment cost reaches approximately 4 billion pounds, which will be distributed over the four phases of the project, which will be developed over four years.
Therefore, the company will develop a phase each year of the project’s lifespan. It includes 1,500 units.
The project is on a space of 50 feedans; 10 of them are specified for the roads and it is located in the heart of the capital, close to at the new Nativity of Christ Cathedral.
The construction area of the project represents 22.5 percent of the total project’s size and the rest of the space, 77.5 percent, is allocated for green areas, landscape, squares, and a commercial mall.
The project includes 50 buildings on a space ranging between 800 square metres and 900 square metresand consists of eight floors.
The Company will allocate 11 percent of the project’s size for services such as launching a mall to serve all the residents in the project and surrounding areas, on 6,000 square metres, compromising three floors.
This area will also include commercial, administrative, and medical activities.
“We will complete marketing of the first phase within three months. We offer a payment plan with a 10 percent down payment and installments over seven years,” Al Adl further added.
The Company began to work on project drawings and measurements, and to study soil and boring works.
However, in the first year of the project, we will start small construction works of the first 5 percent of the project until we collect sufficient amount of sales to start the implementation process.
He, further, pointed out that the company is developing several residential villages in the cities of Damietta, Mansoura, and Ras El Bar.
In Ras El Bar, the company has 3 villages: Sunset Festival, Sunset El Nakheel, and Sunset Gardens.
In Mansoura, the company has Al Oula City on 27,000 square metres and World Trade Centre on an area of 20,000sqm, in addition to the International Medical Centre on an area of 10,000 sqm consisting of specialised medical centres on the Nile in Mansoura City.