EGYPT – The MarQ Developments, a real estate developer, has announced the launch of its latest project dubbed The Water MarQ in New Cairo, with investments worth LE2 billion (US$127.42m), as part of its expansion plan in the market and increasing its projects portfolio in east Cairo.
The MarQ Developments purchased the land plot in New Cairo from Development and Engineering Consultants Co (TAMEER).
Badr added that the project is scheduled to be developed within two years according to the timetable set by the company.
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.
“The company decided to launch its second project in New Cairo after its success in the first one, The MarQ.”Amr Badr – Chairman, The MarQ Developments
Badr explained that the project includes standalone villas with various spaces. The Water MarQ project is located on American University Street in the heart of the Fifth Settlement. The project’s location is one of the most important competitive advantages and is popular with customers who want to live in that area.
“The company decided to launch its second project in New Cairo after its success in the first one, The MarQ, which all its units were sold out within 10 months of its launch. It is scheduled to begin the project delivery in 2023,” the MarQ Chairman said.
Badr further elaborated that the company is always seeking to search 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 North Coast and New Alamein.
The MarQ Developments is an Egyptian joint-stock company was established in 2019. The company’s business model is based on vertical integration of all real estate fields and adoption of an ambitious vision to create smart, sustainable and happy communities.
The WaterMarQ will be developed at the land of Azad project, the Chairman of The MarQ Developments, Amr Badr, said.
The project, which will feature 200 villas, is scheduled for completion within two years, Badr added.
Moreover, The MarQ Developments is also developing another project in New Cairo in partnership with Mountain View over a 26-feddan land. The project is expected to be delivered by the fourth quarter (Q4) of 2023.
The MarQ Developments is looking to expand its projects in various areas, including west Cairo, Galala City, Ain Sokhna, North Coast, and New Alamein.