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Saudi-Egyptian JV launches $3.6bn New Cairo development

Saudi-Egyptian joint venture Mountain View-Sisban has unveiled a $3.6bn real estate project in New Cairo.

Developed over an area of two square kilometers, Mountain View iCity will be one of the first strategic projects in Egypt to be built under a public-private partnership basis.

Mountain View-Sisban will own 60%, with the remainder belonging to the Egyptian Ministry of Housing.

The project comprises a series of concepts implemented using smart technologies adopting the iVilla concept, a statement said.

With areas ranging from 100 to 500 square meters iVillas will be designed like villas but sized like apartments, each with its own entrance, green space and parking.

Dar al-Mimar Architects, in partnership with CallisonRTKL, will jointly design the project.

Mountain View has built and delivered 10 residential communities in Egypt over the past 10 years.