Property developer The Address launches its debut in New Cairo

Egypt’s The Address Real Estate Development says it has launched its housing project debut – The Marq – in New Cairo, with investments of 2 billion Egyptian pounds ($122.7 million).

The newly-established company targets contractual sales worth 1 billion pounds from the project’s first phase within the fourth quarter of the current year, said its chairman Amr Badr on Saturday.

Spanning over 26 feddans, the project will include 300 fully-furnished villas as well as a number of entertainment and services activities, Badr added.

“We are developing The Marq in partnership with a number of local and Saudi investors,” he said.

One of biggest engineering offices and a company in Italy are responsible for the engineering designs of the project, which will be completely executed within 2023, Badr concluded.