Egypt’s Hyde Park Developments has announced plans to invest EGP 4 bn in two mega projects, namely Hyde Park in New Cairo and Coast 82 in the North Coast, Invest-Gate reports.

The developer will begin constructing Hyde Park’s administrative units in March 2019 at an investment value of EGP 3 bn, CEO Amin Serag said during a media tour in Hyde Park project on December 18, adding that another EGP 1 bn will be allocated for Coast 82.

Serag highlighted that the company has already directed EGP 2.2 bn during 2018 to Hyde Park project, revealing that the residential compound spans over 1,500 acres, of which 900 acres were allocated for Hyde Park company, along with 200 acres for Mountain View and 100 acres belonging to Al Ahly for Real Estate Development.

“The project is being inhabited by 90 families. Moreover, the company has already delivered 480 units in 2018 and 250 units of the compound’s total 480 units are being finished,” he noted.

“The company intends to deliver about 1,000 units in 2019, varying between apartments, twin houses, and villas. The project has 21 clusters delivered, with 50-55% of the compound already implemented,” the CEO stated.

Serag also unveiled that the company targets expanding further into other areas, notably west Cairo, and also mulls investment opportunities in Upper Egypt.