Real estate development company Mountain View has announced the launch of a new phase in Chillout Park, called Lake Side Villas.
The phase will be built on an area of 53 feddans with investments worth EGP 3.5bn, and is comprised of special villas ranging in area from 185 sqm to 500 sqm. The villas are designed to include three different heights of up to 18 metres, overlooking a central park.
The uniqueness of the phase is also presented in the large green spaces and lakes extending all over the phase, in addition to spaces designated for walking and meditating.
Investments in Chillout Park are worth nearly EGP 15bn, and is built on an area of 216 feddans encompassing 1,957 housing units. The company has delivered more than 550 units in the project, as it is already a livable project.
Mountain View Chairperson Amr Soliman said that the company is constantly looking for ways to sustain its revenues and increase its assets from projects, especially the non-residential.
In a tour for journalists on Thursday, Soliman added, “The client has become more aware and involved in the Real Estate market, and we started turning our promises into tangible projects and facilities.”
“Therefore, we have partnered up with Egypt Learning Group to introduce HaileyBury School in iCity October, for its first time in the Middle East, with investments worth EGP 500m,” he added, “This goes in parallel with our keenness to provide outstanding educational levels in our compounds, leading to happier communities.”
iCity is considered the first project to be implemented according to the four-dimensional system according to international standards. It includes smart solutions that separate the movement of individuals in residential areas from cars, to create a safer and quieter society.
The company aims to deliver 380 units of the first phase of the project in the fourth quarter of 2021, as all facilities are currently available at the project. In addition, the company is seeking to invest a total of EGP 650m in construction during 2021.
It is noteworthy that the company achieved sales of 10 billion pounds in 2020 exceeding its annual expectations. In addition to signing a strategic cooperation agreement with “Huawei Technologies” to develop the infrastructure across “I-City” projects, making it the first happy, interactive smart city in Egypt.