Sisban — Mountain View alliance launches ‘iCity 6 October’ project in Egypt

The Saudi-Egyptian alliance, Sisban — Mountain View, has inaugurated the iCity 6 October project in Cairo.
The project’s launch came as part of a long-term partnership between the Egyptian government and major economic entities wherein the Sisban — Mountain View alliance will launch a series of mega real estate developments in the Egyptian market.
The objective behind the partnership is to give the local economy a boost and enrich the Egyptian real estate sector.
The “iCity New Cairo” project represents the largest contribution of the Saudi-Egyptian alliance.
The ceremony was attended by top company officials officials, a number of Saudi, Egyptian and other Arab businessmen and media representatives.
Set to accelerate growth and drive investment in the real estate sector by providing modern housing units at competitive prices, the project is owned 72 percent by Sisban — Mountain View and 28 percent by Egypt’s Ministry of Housing, Utilities & Urban Development, represented by the New Urban Development Authority, said Mohammed Al-Dhabaan, chairman of Sisban.
Al-Dhabaan added: “ ‘iCity 6 October’ is one of the most important projects for the Egyptian market as it will create thousands of jobs for Egyptians. The project will also increase the competitive value of the market, being the largest economic project in the Arab world.”
Amr Soliman, chairman of Mountain View, said: “ ‘iCity 6 October’ is one of the most prestigious real estate projects in the Egyptian market built to the highest international standards and architectural measures. The project will be the first four-dimensional residential city in the world and its launch is a confirmation of the successes we have achieved in the Egyptian market.”
Ayman Ismael, non-executive chairman of the Administrative Capital Company, said: “I am pleased to announce the launch of the ‘iCity 6 October’ project, the second partnership between the Sisban — Mountain View alliance and the New Urban Development Authority.”
“iCity 6 October” has a number of features including an “islands area” that offers residents an opportunity to experience island living within a residential complex. The terrain has been upgraded to simulate the island model while ensuring privacy, exclusivity and security without hampering other facilities.

Source: Arab News