Royal Developments, one of the leading real estate developers in eastern Cairo, launches the Monark project in Mostakbal City with over EGP 6 bn in investments, Invest-Gate reports.

The project is part of the company’s plan to maximize investments and build developments in new cities.

Royal Developments Chairman Sherif Shaalan says Monark came as the company expands based on building unique projects to strengthen its position in Egypt’s market.

The project will be a marvellous trend in Mostakbal City, with its location, designs and services providing a high quality of life, he adds.

Monark is an integrated residential project on 40 acres, Shaalan reveals, noting that Mostakbal City is a natural expansion for eastern Cairo, with an exceptional location linking vital areas and aligning with the state’s vision for urban growth in new cities.

Royal Developments has been operating in Egypt for over 16 years, building nearly 100 residential projects in New Cairo and other areas.

Egypt’s urban renaissance and diverse investment areas supported real estate developers’ expansion into these locations, allowing Royal Developments to invest in the New Administrative Capital and Capital Prime Mall, CEO Karim Shaalan highlights.

Monark follows the company’s vision to create integrated urban communities by managing space and providing services, he adds.

The 1,200-unit Monark project includes apartments, villas, townhouses and quattro units of various sizes at competitive prices. It also features a medical, administrative and commercial centre on 5 acres.

The first of four phases is being launched, targeting EGP 1.2 bn sales by 2023, Shaalan states.

The top executive unveils that Royal Developments is studying investment in western Cairo and the North Coast.