The Address Developments, an affiliate to The Address Investments Real Estate Consultancy, has acquired a 25-acre plot in Fifth Settlement, New Cairo, at an investment value of EGP 2 bn, Invest-Gate reports.

Amr Badr, the company’s chairman, exclusively told Invest-Gate that The Address opted for the land area in a bid to develop a diverse range of villas with various sizes, targeting sales estimated at EGP 2.5 bn.

Developed over three phases, the new compound is aimed at boosting the supply of villas in New Cairo. It is expected to be entirely marketed by 2020 and will be fully delivered within four years, Badr revealed.

In addition, about 8,000 square meters of the project’s total area will be allocated for the development of a commercial mall, pumping investments worth approximately EGP 500 mn.

Meanwhile, on May 9, Badr remarked that The Address is marketing over 100 projects for 65 developers, located in different residential areas, namely the New Administrative Capital (NAC), New Cairo, Mostakbal City, and the North Coast.

“The company has achieved EGP 1.4 bn in sales for developers by the end of 2018, adding that it is marketing 20 diversified projects in NAC,” he stated back then.