Egypt’s property developer Mountain View has completed the sale of the first phase of its latest project at Mountain View iCity Club Park, Club Villa, in east Cairo, within five hours of its launch, Invest-Gate reports.
Situated in New Cairo, Club Villa is developed in partnership with the Ministry of Housing, represented in New Urban Communities Authority (NUCA), the developer’s press release highlighted on July 4.
With areas ranging from 140 to 280 square meters, the new product’s units are located in a prime location close to the Club House, overlooking Club Park. The project includes fully-equipped units with air conditioners (ACs) and kitchens, as well as, a variety of services such as housekeeping and valet parking.
Amr Soliman, founder and president of Mountain View, said, “This great demand on the project is a great [evidence of] to the trust that we have built with our customers in all our previous projects.”
Soliman pointed out that the market achieved a growth rate exceeding 33% last year, praising the role of the state and its goals toward the reconstruction of new cities in the desert of Egypt. He explained that the success of Mountain View projects is part of the boom Egypt’s real estate market is currently witnessing.
On another note, the company is preparing to launch Rhodes Island on an area of 50 acres at its Mountain View Ras El Hikma.
In
March, the company announced plans to launch real estate units, including villas and apartments, in ten out of its 13 projects across Egypt, with targeted sales of EGP 1.5 bn during the current year.