Cairo – Mubasher: The National Bank of Egypt (NBE) and Banque Misr announced the launch of Gardenia City with investments of EGP 26 billion.

A consortium comprised of Al Ahly Sabbour Development and Founders, a subsidiary of Hyde Park, will be responsible for selling and promoting the project, Yehia Aboul Fotouh, Vice Chairman of NBE, said in a statement on Monday.

The project is eligible for the Central Bank of Egypt’s (CBE) initiative for real estate development, allowing customers to make payments over up to 20 years.

Gardenia City, built over 513 feddans, features about 19,500 units, 100 villas, and 80 twin houses.