Egypt’s real estate developer, City Edge has launched its two flagships; Mazarine and The Gate in New Alamein City, northwest of Cairo, chief executive Amr El-Kady said on Wednesday.
Spanning over 98 feddans, Mazarine project will include 296 villas, chalets, and twin houses, overlooking two lakes stretching on a space of 208 feddans, El-Kady added.
City Edge is 60 percent owned by the country’s New Urban Communities Authority (NUCA), affiliated to the ministry of housing, 38 percent by Housing and Development Bank (HDB), and 2 percent by Holding Company for Investment and Development.
In addition, The Gate project includes two towers, each standing at 170 metres tall and 44 stories and comprising 968 housing units.
Housing units will be delivered within two years, he added.
In May 2018, NUCA signed a protocol of cooperation with City Edge to manage the development and marketing works at projects in the New Administrative Capital, New Alamein City, and New Mansoura.
