El Mostakbal for Urban Development will meet real estate developers who are competing for six plots of land offered in a sealed-bid public auction as part of the Future City project with a 600-acre area, according to a press statement issued Saturday.
The lands are offered for the development of residential integrated activities. Companies can submit their offers on 29 May, the statement read.
The meeting will be held for the purpose of responding to the companies’ inquiries for the development of competitive investment plans and strategies with more stability and accuracy, company chairperson Essam Nassif said.
Nassif added that the company’s first auction in March was for six plots of land for development with areas of 95.5 acres, 102.2 acres, 77 acres, 84.7 acres, 101.48 acres, and 94.4 acres.
El Mostakbal for Urban Development is the general developer of the Future City project with a total area of 11,000 acres at the east extension of New Cairo. The area is divided into 6,000 acres dedicated for residential units and 2,500 acres allocated for service projects such as education facilities, health services, chalets, administrative, commercial, and entertainment units, as well as 2,500 acres of roads and green spaces.