of a 279-acre plot of land in Mostakbal City from master developer MIDAR for a mixed-use project within a strategy to expand its presence in East Cairo.
HAP will use the plot to develop its third project in Mostakbal City at an investment of 35 billion Egyptian pounds ($722 million), the developer said in a press statement.
The statement said the mixed-use project will feature various residential options, including villas, apartments, retail units, and office spaces.
The HAP-MIDAR partnership builds upon the success of the Haptown and The Valleys residential projects in Mostakbal City. Haptown is a 140-acre project offering 5,000 residential units, and 93 percent of the units have been sold. The Valleys, spanning 110 acres, was launched in late 2023.
(1 US Dollar = 48.45 Egyptian Pounds)
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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