Egypt’s property developer Mabany Edris plans to pump investments worth EGP 1.25 bn in its first-ever integrated compound in New Assiut, aiming to deliver phase I of the project within two years, Invest-Gate reports.

The new development will be implemented over four or five phases in four years. Among other modules, the compound will comprise luxurious villas, with areas ranging from 200 to 350 square meters, Mohamed Edris, the company’s CEO, revealed in a press release on October 27.

Besides, it will encompass high-quality services such as commercial spaces, social and health clubs, alongside several restaurants and swimming pools, Edris further stated.

He noted that extensive research was conducted to recognize customer preferences, and thus determine the suitable areas and services for all residents. He emphasized the rising purchasing power of Assiut locals, backed by their income levels, in addition to their willingness to own luxurious units similar to those of the capital.

Since its foundation 20 years ago, Mabany Edris has managed to develop an array of mixed-use properties in east and west Cairo, varying between residential, commercial, medical, administrative, and industrial projects.