Egypt’s real estate developer Mountain View plans to launch a new 17-acre project in iCity October inside the heart of the 6th of October City this year, Invest-Gate reports.

The company’s chairman Amr Soliman emphasized, “[The new development] reflects the Ministry of Housing, Utilities, and Urban Communities’ trust in us after choosing the company out of five real estate developers to implement this project,” according to a recent press release.

The new project is the latest and most important achievement of Mountain View, he noted, confirming the company’s commitment to creating more real estate products with the best quality.

iCity October is located a few minutes away from Juhayna Square, the Egyptian Shooting Club, and Mall of Arabia, while being in close proximity to world-class hospitals and schools as well as everyday conveniences.

Additionally, the company will also focus on developing its existing projects in the 6th of October City for being one of the most important areas on Egypt’s real estate development map, the statement added.

Soliman stated, “[The company] owns a land portfolio of 800 acres in west Cairo, divided into four projects, and this enables us to achieve our investment goals.”

He elucidated that Mountain View is keen to meet the highest environmental standards and adopt new smart solutions to create safer and quieter communities. It also develops smart infrastructure in all projects to ensure the high speed and quality of telecom services as well as support information technology.

The company has a portfolio of 17 projects cross-country, which are expected to accommodate more than 12,000 people by the end of 2020.

Earlier this year, the company revealed its plans to start the delivery of 12,00 residential units in the first phase of New Cairo’s iCity development project in June, with EGP 1.5 bn investments allocated for 2020.