By: Abdullah Bedeir
Cairo – Mubasher: Minka Development has launched an integrated urban development under the name of Kinda with estimated investments of EGP 5 billion in eastern Cairo.
The real estate company purchased a land plot inside Taj City Project at an area of 27 feddans from Madinet Nasr Housing and Development (MNHD) for a value of EGP 1.15 billion, the company’s CEO, Abdallah Sallam, said in a press conference on Monday.
Minka Development aims to generate EGP 6 billion in sales from the 800-unit residential area of the project, Sallam added.
The project will be financed from the company's own resources and possibly other resources.
Work on construction plans started in July 2019, while initial works on the site began in May 2020, with completion scheduled in 2025.
