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| Mahmoud El-Adl |
MBG Real Estate Development is implementing 50% of “Pukka” and paying 90% of the value of the project land to the Administrative Capital
AlAqarat ElYoum
MBG Real Estate Development revealed that
it has implemented 50% of the phases of the “Pukka” project in the new
administrative capital within the framework of the project schedule, and has
completed paying 90% of the value of the project land, after paying three
installments in favor of the new administrative capital company from the value
of the project land The equivalent of 470 million pounds.
Mahmoud El-Adl, Chairman of the Board of
Directors of MBG Real Estate Development Company, said that the company has
committed to implementing the “Pukka” project and paying its installments
according to the specified schedule, despite the conditions that the real
estate market is going through after the repercussions of the crisis of the
spread of the Corona virus, and its negative impact on all sectors, adding that
the company targets Paying the last installment on time, which reflects the
company’s financial solvency in the real estate market and its expansion plan
to pump more investments in the new administrative capital during the current
year.
Al-Adl announced that the company has
completed marketing 85% of the units of the “Pukka” project, and that the
delivery of the first phase of the project will start next year 2022, within
the timetable of the “Pukka” residential project, which is built on an area of
41 acres and includes 42 buildings and a commercial area that includes the
most famous terraces. Globally, on an area of 20 thousand square meters, with
buildings not exceeding 22%, and the rest of the area is green areas and landscaping.
He added that the company seeks to increase
its current investments to reach 9 billion pounds during the current year, with
2 billion pounds in investments for two new projects in the new administrative
capital, which will be launched during the second half of 2021.
MBG Real Estate Development is implementing
the first integrated medical center “River Green” in the New Administrative
Capital, with an investment value of one billion pounds, in the MU-23 area
directly on the Al-Amal axis.
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