Master Builders wins two land plots in Egypt new capital
Cairo-based Master Builders Group (MBG) has got two land plots over 50 feddans in the country’s new administrative capital to execute a residential project there, its chairman Mahmoud Al Adl said on Thursday.
The property development firm has marketed 400 units in its newest residential flagship Pukka in the new capital on a space of 50 faddans, Al Adl added.
Pukka will include 48 residential buildings, with a total of 1,500 housing units and spaces ranging between 102 square metres and 227 square metres, he said.
“We will obtain the ministerial approval on Pukka within the next few days,” Al Adl said, adding that the project is set to be completely promoted at the end of 2019.
Located 45km (28 miles) east of Cairo, the anticipated new capital city is part of the Egyptian government’s plan to expand urban areas to deal with the state’s rapid population growth and improve the nation’s infrastructure.
The new city will be a 270-square-mile hub with 21 residential districts to accommodate five million people. It will feature 1,250 mosques and churches, a 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities and a park that is projected to be the world’s largest.