Egypt's anti-drug body launches new awareness phase in Maspero Triangle    Agiba Petroleum starts production from Arcadia-28 at 4,100 BOE/day    Minister El-Shimy pushes for stronger returns, partnerships in real estate, construction sectors    Apparel, textile chambers engage with Chinese delegation to explore investment opportunities in Egypt    Egypt reviews health insurance funding mechanism to ensure long-term sustainability    Obama calls for aid access to Gaza, says 'no justification' for withholding food    Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Egyptian president follows up on initiatives to counter extremist thought    Egypt's SCZONE eyes deeper investment, port digitalisation ties with Singapore    Egypt's gold prices slip slightly on July 28th    Egypt's Housing Min. reviews HDP marketing plan    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



MBG to initiate Pukka 2 in New Capital 2Q 2020
Company continues its offers in March; strong precautions are being taken to combat Coronavirus, says chairperson
Shaimaa Al Aees Published in Daily News Egypt on 22 - 03 - 2020

MBG Development intends to launch Pukka 2 project in the New Administrative Capital, East Cairo in the second quarter (2Q) of the year, according to Chairperson of MBG Development Mahmoud Al Adl.
He said Pukka 2 is located on an area of 100 feddan, with investments amounting to EGP 10bn. The necessary studies of the project are currently underway. It will be a residential compound offering villas only.
Al Adl noted that investing in the New Capital is like safe haven because of its continuous price increase, stressing that investing in real estate now is better than other economic sectors, especially after the spread of the Coronavirus pandemic which affected the whole global economy.
The company will continue presenting its offers that were supposed to be announced in Cityscape exhibition before it was postponed. The company's offers will last until the end of March.
Regarding the company's efforts in protecting its employees from COVID-19, Al Adl said the company took several precautionary measures to prevent the spread of the Coronavirus. These measures include sterilising the company's branches and offices periodically. The company will also stop using fingerprint scan for employees.
MBG also provided hand sanitizers at the company's headquarters and other buildings, so that employees can use it continuously during work, he added.
The company announced earlier investing EGP 700m in Pukka compound in the New Capital this year. Pukka consists of about 1,680 housing units and its area is approximately 40 feddan, with total expected sales of EGP 4bn. The company aims to deliver the first phase in 2022.
Al-Adl then elaborated that his company began concrete works for the project, as it directed EGP 200m for construction works. The company plans to increase construction rates of the project.
MBG also managed to market approximately 80% of the residential part of the project.
Al Adl said the company paid three out of five instalments of the project's land price in time for the Administrative Capital for Urban Development, the state-owned company responsible for developing the New Capital, which constitutes 60% of the total cost of the land.

Clic here to read the story from its source.