Egypt’s urban developer Madinet Nasr Housing and Development (MNHD) announced on September 26 that it received the approval of the Civil Aviation Authority for additional heights in its residential project Taj City, Invest-Gate reports.
The area subject to the additional heights is nearly 575,000 square meters of land in the most premium location in Taj City, MNHD said in a bourse filing.
The allowable additional heights are 7.5 meters above current height limits. This will result in a potential expansion in the built-up area (BUA) of Taj City of around 400,000 square meters with some leveling works, representing a 17% increase to the remaining BUA in the compound, the company added.
The majority of the new area is set to be commercial and office spaces, given the project’s prominent location, the company noted.
Spread over 900 acres near New Cairo, Taj City is in close proximity to Cairo International Airport (CAI) and offers an easy access to Cairo’s key districts, featuring an array of luxurious residential units, commercial areas, retail stores, medical facilities, and international academic offerings.
The mixed-use development offers units with sizes ranging from 83 to 300 square meters, with varying modules. Interested buyers are to benefit from Taj City’s ten-year installment plan with 0% down payment.