Egypt’s private property developer Mountain View plans to start the delivery of 12,00 residential units in the first phase of iCity development project in June, with EGP 1.5 bn investments allocated for 2020, Invest-Gate reports.

The announcement came during a press conference held on January 27, in the attendance of the company’s founder and chairman Amr Soliman and other representatives from ACE Arab Consulting Engineers “Moharram Bakhoum,” Dar Al-Mimar Engineering (DME), and Redcon Construction.

With EGP 7 bn investments, the project is being developed under a public-private partnership (PPP) agreement signed with the ministry of housing, utilities, and urban development on the sidelines of the Economic Development Conference (EEDC) in Sharm El-Sheikh held in 2015.

Commenting on the news, Soliman noted, “2020 will be Mountain View’s year of achievements. We will start the year with the delivery of 1,200 units by June, and then we will inaugurate the first phase of Mountain View Club before year-end.”

In November 2019, Mountain View announced that construction works will begin on Egypt’s “first international business hub” before November-end, coming as part of its flagship project in New Cairo, called “iCity,” Thomson Reuters reports.