Capital Group Properties will launch construction in the first phase of their project Alburouj, under the name Acamar, at an investment cost of EGP 40 bn, according to Walid El-Hindi the company’s CEO, reported Al Borsa.

The project will include townhouses, duplexes, and apartments, and will be located east of Cairo. The company will also provide feasible payment methods, whereby it recently approved a payment plan spanning eight years from date of purchase.

Acamar will also include public services, an international school, the Capital Health Center, as well as a new branch of El Sawy Culture Wheel.

The project is located 15 minutes away from New Cairo and the New Administrative Capital and 20 minutes away from Heliopolis, according to Al Shorouk News.