By: Abdullah Bedeir

Cairo – Mubasher: Minka Development plans to invest EGP 500 million in a new residential project in eastern Cairo during 2021, the CEO Abdallah Sallam revealed.

Spanning over an area of 27 feddans, the new development will feature 800 residential units, Sallam said.

Expected be built over four years at an investment cost of EGP 4 billion, the project is forecast to generate EGP 6 billion in sales, he noted.

The CEO further revealed that a new product will be launched, comprising of 50 fully-finished and furnished residential units in the project.  

In August 2020, Minka Development purchased a land plot inside Madinet Nasr Housing and Development’s (MNHD) Taj City for EGP 1.15 billion.