Mardev Developments has launched the third phase of its Menorca compound project, located in the R8 district of the New Administrative Capital (NAC), the company’s CEO Mohamed Zohdy revealed.
Zohdy added that the 200 unit Menorca compound is comprised of residential units ranging between 110 and 280 sqm in total, and noted that 95% of the first and second phases have been marketed.
He said that the 17.64-feddan compound includes 17 residential buildings, and features industrial lakes, a green and entertainment area, and a commercial mall.
Zohdy added that Mardev Developments is building Skylight Mall in the NAC’s R7 area, over an area of 3,000 sqm. The mall, for which 40% of the total construction work has been completed, consists of two basements, a ground floor, and two upper floors. This development is scheduled for completion by the end of 2022.
Mardev Developments is building the Mardev Plaza Mall in the NAC’s R8 district, which includes a cinemas complex, as well as medical and commercial activities.
Zohdy added that the company studies market requirements before starting projects, to provide a real estate product that meets customers’ aspirations in terms of type of activity, spaces, services, and prices.
He confirmed that the NAC has strongly contributed to boosting Egypt’s real estate sector and revitalising the urban movement, especially in the new areas.
This is due to its national importance and unique strength, with the support provided by the state to developers working in the capital and the facilities that contribute to the success of the project.