PROJECTS: Egypt’s Master Group launches City Oval project in the new capital

PROJECTS: Egypt’s Master Group launches City Oval project in the new capital

Egyptian property developer Master Group has launched a 37-acre City Oval residential project in the New Administrative Capital at a total investment of about 6 billion Egyptian pounds ($380.7 million), the company's CEO said.Mohamed Lashin told Zawya Projects that the three-phase development would include 1,021 residential units, 31 standalone villas, 34 twin-houses and a 13,000-square metre mall.Construction would start in the fourth quarter and complete in 2024, he said, adding that the company has a build-up a 120-acre landbank for future projects.1 US Dollar = 15.76 Egyptian Pounds)(Reporting by Eman Hamed; Editing by Anoop Menon)([email protected])Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read