Egypt’s property developer Master Group said it has marketed 80% of its flagship “The City” in the New Administrative Capital, aiming to complete the project’s marketing process by the end of October, Invest-Gate reports.

The project’s construction has started in mid-October with up to EGP 3.5 bn in investments, Sales Manager at Master Group Hossam Hamdy said in a recent statement, highlighting that the company has already obtained the ministerial approval for implementing the project.

Located in the new capital’s R7-H2 site and covering an area of 54 acres, The City is a mixed-use compound that encompasses residential, commercial, administrative and medical units. It comprises 2,700 units with varying modules and areas starting from 140 to 211 square meters.

In addition, Hamdy unveiled that Master Group owns “The City Valley” project with an area of 63 acres, in which “70% of the project’s area is dedicated for villas, 25% for apartments, 5% for serviced apartments, as well as, three palaces with 1,500 square meters for the single palace.”

“We plan to complete marketing of The City Valley project by the end of the coming year, with targeted sales of EGP 5 bn,” the sales manager added.