The Address Developments has made its debut by kicking off its first luxury serviced villas project in New Cairo’s Golden Square, pumping investments worth EGP 2.1 bn, Invest-Gate reports.

Dubbed “The MarQ,” the 26-acre compound saw the first phase sold out during the launching day on October 13, yet the developer is awaiting the ministerial approval within this month to commence construction works on-site, The Address Chairman Amr Badr announced. The company is negotiating with global hotel chains to operate and maintain the project upon completion, he added.

Tailored to balance between luxury, adventure, tradition, and modernity, The MarQ will comprise 300 fully-furnished villas, along with a diverse range of entertainment activities, services, and premium facilities. Interested buyers are to benefit from The MarQ’s seven-year installment plan, with a 10% upfront, Badr further highlighted.

The newly-introduced firm has assigned Hany Saad Innovations to design the interiors and signature villas, while PMP Company will handle the compound’s project management, he underscored, noting that The Address is establishing the development in cooperation with multiple Saudi investors.

Meanwhile, the Egypt-based developer will jointly develop another real estate project in Ain Sokhna, with designs underway to unveil the newest addition by early 2020, the chairman confirmed, revealing that The Address is also eyeing the launch of another development in west Cairo’s Sheikh Zayed during the same period.