Dubai-based developer Al-Futtaim Group plans to invest EGP 3 bn to complete its projects in Egypt, including its Oriana development in New Cairo which will alone receive EGP 1 bn in investment, according to Managing Director Mohamed El Mikawi, Amwal Al Ghad reported on Tuesday.

Oriana will feature 620 villas spread over an area of 850,000 square meters, with the first phase delivered in 2014 and about 45% of the second phase completed.

Phase two is expected to be delivered in the third quarter of 2017, and will feature 243 villas spread over an area of 271,000 square meters.

The newspaper reported yesterday that Al-Futtaim will also build two hotels at its flagship mixed-use development, Cairo Festival City in New Cairo, with construction work set to begin next year.