Mardev Developments is currently implementing Menorca Residence in the New Administrative Capital (NAC), pumping investments amounted at EGP 2 bn, with 15% of the project marketed since its launch last May, invest-Gate reports.

With its built-up area representing 19% of the total land, Menorca Residence spreads over 17.5 acres and boasts 17 buildings, with units varying from 115 to 254 square meters, the company’s general manager Ibrahim Zahran said on the sidelines of Al Ahram Aqari Real Estate Exhibition on July 25.

Menorca Residence is being developed over three phases, with expectations to be delivered in 2022. Prices range between EGP 8,000 and EGP 12,000 per square meter, with 0% down payment and 12-year installment plans, Zahran confirmed.

He explained that additional projects owned by Mardev Developments in NAC include two commercial centers, Asgard Mall and Sky Light Mall, revealing that the company has pumped total investments amounted at approximately EGP 36 bn since its inception in the real estate market.