Master Group Invests EGP 12 bn in Projects at NAC

Master Group Invests EGP 12 bn in Projects at NAC

Egypt-based property developer Master Group has announced that the company plans to pump EGP 12 bn worth of investments into its two flagship projects, The City and The City Valley, in the New Administrative Capital (NAC), Invest-Gate reports.

Master Group’s Chairman Muhammad Lasheen told Invest-Gate that The City is a residential, commercial, administrative, and medical project that spans across 54 acres in NAC’s R7 H2 region. It encompasses gardens that make up about 70% of the land area, as well as, artificial lakes. Furthermore, the project consists of a commercial square that incorporates various cafes, restaurants, kids’ areas, and a flickering fountain.

Meanwhile, The City Valley spans across 63 acres, with 70% of the project dedicated to villas, 25% to apartments, and 5% to serviced apartments, in addition to three palaces covering 1,500 square meters each. Lasheen explained, adding that the integrated compound will also comprise a commercial area.

The chairman underlined that the company has toured several Arab and Gulf countries to market its Egypt-based projects, especially those in the New Administrative Capital (NAC). He elaborated that Master Group has promoted its developments in two of the largest real estate exhibitions in the Arab world, namely WAFIX in Saudi Arabia and Hazi Misr (This is Egypt) in the UAE.

Lasheen stressed that the company does not only address Egyptians expatriates but is also focusing its marketing plan on the Gulf investors wishing to secure a residence in Egypt in exchange for owning a property.

“We have been touched by the great passion for NAC project as it is Egypt’s real estate future, which resonates well abroad,” he noted.

In addition, the chairman uncovered that Master Group has plans to continue to invest in the new Egyptian development areas such as Ain Sokhna and Ras Sudr, which lies on the western shore of the Red Sea’s Gulf of Suez.

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