El Mostakbal for Urban Development has authorized Development & Housing Company for Real Estate Investment to develop a 30-acre- integrated urban project as part of Mostakel City’s third phase in New Cairo, Invest-Gate reports.

In an official statement by the real estate giant El Mostakbal for Urban Development, Chairman Essam Nasif comments, “It is part of the company’s framework and keenness to license all serious developers, those with capabilities and resources to achieve Mostabal’s vision and the integrated development plan.”

On his part, Chairman of the Board of Directors of the Development & Housing for Real Estate Investment Company Hassan Ghanem, a subsidiary company of the Development & Housing Bank, to which he is its president states, “The company aims to expand its investments in the next stage through major land acquisitions, implementation, and development of new integrated urban development projects.”

Moreover, Ghanem announces that the coming period will witness the establishment of many urban development projects in Sheikh Zayed City, the North Coast, and Ain Sokhna.

Nasif, further, adds that the El Mostakbal is currently working on finishing all facilities, services, and the infrastructure for the city’s first phase, confirming that the delivery date is scheduled end of 2020. He also points out that facilities and services of Mostakbal City’s third phase are to be completed by 2022. The official statement elaborates that many projects across the city are to be completed and delivered within the few coming years.