Madar Holding Company for Real Estate Development is set to invest EGP 4.5 billion in the real estate market in 2017 and launch new projects, revealed Gasser Bahgat, the company’s Board of Directors Chairman and Managing Director, reported Al Mal News.

Madar intends to partner with the Ministry of Housing in the second phase of partnership projects offered for real estate developers and gain access to lands earmarked for mega projects.

The company is currently developing its first project, Azha Resort, in Ain Sokhna, over an area of about 1 million square meters. The EGP 7 billion project is a touristic, residential and commercial one located 15 minutes from the New Administrative Capital.