Master Group, a real estate development company, has launched the “City Oval” project in the R8 area of the New Administrative Capital, with investments exceeding 4 billion EGP.
Mohamed Lashin, Chairman of the company’s board of directors, stated that the project is the company’s second residential project in the New Administrative Capital. It spans an area of 30 acres and is characterized by green spaces, lakes, and service areas that account for over 70% of the total project area.
He added that this project is a continuation of a series of projects launched by the company, starting with their first project in the capital, “THE CITY,” located in the R7 area and spanning 54 acres. He mentioned that “THE CITY” project is progressing well according to the agreed-upon timelines with the New Administrative Capital Company, reaching record construction rates. The total construction for the first phase has exceeded 80%, in addition to ongoing work in the second and third phases, bringing the overall project completion rates to about 65% for the total area of 54 acres.
He affirmed that the New Administrative Capital Company deals with the New Administrative Capital as a highly important national project that is being completed as quickly as possible and according to the highest standards. Recent facilitations and measures taken by the company aim to deliver projects to customers in accordance with all international standards for constructing sustainable smart cities, while also ensuring strong implementation rates on the ground to protect customer rights.
Furthermore, Mustafa Lashin, Vice Chairman of the Board of Directors of Master Group, explained that the new project stands out with its exquisite and precise designs, as well as its diverse spaces that meet all customer needs. It offers a vast range of recreational and essential services for all project residents, including green areas, lakes, and a social club spanning an area of 3,000 square meters. Additionally, there is a commercial center covering an area of 10,000 square meters.
He added that the company has recently developed an expansion plan to implement various projects in several promising investment areas, such as the North Coast and the western part of Cairo. The company is currently studying and selecting the best projects to be launched in the second half of the year, aiming to enhance competition, customer trust, and focus on providing the best real estate product to customers for maximum benefit in the coming period.
Ali Gaber, the Managing Director of the company’s commercial sector, stated that “Oval City” is distinguished by its well-planned layout and meticulous attention to every part within the project to provide the highest level of services, comfort, and quality of life. It becomes an unparalleled residential destination for those seeking excellence and sophistication, with over 70% of the space allocated for this purpose.
He emphasized that Master Group always strives to offer the most comprehensive services and privileges to its customers. The company gained significant trust last year, evident from the performance results, which exceeded a growth rate of 500% compared to 2022. He also mentioned that the company aims to achieve double the growth rate achieved in 2023 during the current year 2024, coinciding with the launch of their new project and their preparation to introduce another project in the second half of the previous year.
