EgyGab developments agreed to land buy arrangement with the recorded Madinet Nasr for Housing and Development (MNHD) to execute a residential project of more than EGP 2 billion in investments, Al Borsa News investigated February 28th.
EgyGab purchased the 83,000-square-meter land plot that is located in east Cairo for EGP 836 million.
The real estate developer targets to build 1,600 housing units in Taj City project, which is anticipated to be offered for sale during the third quarter of 2021 and until the end of the year.
The previous month, EgyGab’s current CEO Mohammed Gaballah led a seed round for the real estate providing platform Isqan.com.
MNHD, meanwhile, has gained a combined net gain of EGP 1 billion in 2020.