By: Abdallah Beder

Cairo – Mubasher: The Ark Development intends to invest around EGP 30 billion in a new urban project in New Cairo city in partnership with Libyan Oya Company.

The real estate developer aims to log sales worth EGP 100 billion from the project, said the CEO of The Ark Development, Osama Abu Allam, in a recent press conference.

The project spans a total area of 92 feddans and is set to complete within a period of 10 years.

The project’s construction works have been assigned to Abnaa Sinai, Consolidated Contractors Company (CCC), and Arabella Contracting. Moreover, it is set to house residential, administrative, commercial, and hospitable units.