The Master Builders Group (MBG) for Real Estate Development has achieved EGP 2bn in sales of its “Pukka” project in the New Administrative Capital, and plans to acquire two plots of land in the capital.
The company has marketed 50% of the project since it was launched and it expects to finalise its marketing during the coming year, according to Mahmoud Al Adl, chairperson of MBG.
The company provides a flexible payment system, with a 10% downpayment over a seven-year instalment period, Al Adl highlighted.
Pukka is being developed on 50 feddans and includes 50 buildings encompassing 1,500 units with sizes varying from 112 sqm to 230 sqm with a building area incorporating 22.5%.
The project is being built over four phases with investments of EGP 4bn.
“The project is self financed and bank loans are not in our plan,” Al Adel noted, adding, “the company has acquired ministerial approval for the project.”