Egyptian real estate developer, The MarQ Developments, has announced the launch of its latest project, The WaterMarQ, in New Cairo, with investments worth EGP 2bn.
The launch comes as part of its expansion plan in the market, and increasing its project portfolio in east Cairo.
Amr Badr, Chairperson of The MarQ Developments, said that the new project is being developed over 20 feddan belonging to the Azad project.
Badr added that the project is scheduled to be developed within two years, according to the timetable set by the company.
He said that The WaterMarQ is the company’s second project in the local real estate market, after The MarQ project in Fifth Settlement, New Cairo.
He further noted that the company has assigned major engineering consultancy offices to develop the project designs, which includes a 10,000-sqm lagoon within landscaping and green spaces.
Badr explained that the project includes standalone villas with various spaces. The WaterMarQ project is located on the same street as the American University in Cairo (AUC), in the heart of the Fifth Settlement.
“The company decided to launch its second project in New Cairo after its success in the first one, The MarQ, which saw all its units sell out within 10 months of its launch,” he said, “It is scheduled to begin the project delivery in 2023.”
Badr also said that the company is always looking for successful partnerships and expand its projects portfolio by studying available investment opportunities that are commensurate with its expansion strategy.
Additionally, The MarQ Developments aims to expand its projects in the most attractive areas for investment, including west Cairo, Galala City, and Ain Sokhna, in addition to the North Coast and New Alamein.