Minka Development has launched an integrated urban development in east Cairo, called “Kinda,” with planned investments of EGP 5 bn, attempting for completion in 2025, Invest-Gate reports.

Sales of EGP 6 bn are planned for generation from the 800-unit compound, which spreads over 28 acres, situated directly on the Ring Road and within Madinet Nasr for Housing and Development’s (MNHD) flagship project, Taj City, Minka Development CEO Abdullah Sallam revealed during an online press conference on August 24.

“We are happy to launch one of our largest projects to date, to continue the path that the company has started, aiming to add new innovative offerings to the Egyptian market. The project is inspired and designed around aspects of the livability of the top-ranked cities in Canada,” Sallam was quoted as saying.

“Through this, we aim to provide a practical and sustainable residential community. The design teams that worked on Kinda have shortlisted nine main features of livability to be the cornerstones of the features and design of the project: climate, community, connectivity, design, education, health, public space, sustainability, and safety,” he continued.

Last March, Minka Development purchased the EGP 1.15 bn land plot from MNHD, according to the CEO, noting that work commenced on-site last May, while also stressing that construction of Kinda will be financed from the Egypt-based company’s own resources and possibly other credit sources.

On July 6, the real estate developer announced being on the verge to finalize its “latest and largest project” in east Cairo, endeavoring for launching within the next couple of months, with intentions to set foot in west Cairo and expand into various coastal areas in the near future, according to a previous statement.