Egypt’s real estate developer MBG targets achieving EGP 1 bn in sales of Pukka project in the New Administrative Capital (NAC) in the upcoming three months, Invest-Gate reports.

Mahmoud Al Adl, chariman of MBG, said in a press statement on July 29 that the company aims to achieve this target through the company’s participation in local and foreign real estate exhibitions in August, September, and October.

Al Adl revealed that MBG has achieved sales worth EGP 300 mn during Al-Ahram Real Estate Exhibition (AQARI) held during the period from 25 to 28 July.

A high percentage of the company’s sales in the exhibition is attributed to the Pukka Capital Walk, the company’s mall inside Pukka project, he elaborated, adding that the mall has a strategic location in NAC.

Additionally, he pointed out that the mall features commercial, administrative, and medical units with different areas suitable for all activities.

MBG has launched Pukka project for sale in February 2018 on 40 acres, just 5 minutes from the Green River and the British University in Egypt (BUE), and only 10 minutes away NAC’s Diplomatic District, he pointed out.

Covering 40 acres, Pukka is being developed with investments worth EGP 4 bn. The company has earlier begun constructing the project’s first phase, with EGP 500 mn worth of investments. Al Adli elaborated that the compound is being developed over four phases, and will be delivered in 2022.

In April, MBG announced that it is currently preparing to launch two tourism projects in Ain Sokhna and the North Coast.