Marseilia Group to develop Amlak Finance-owned land plot in Nasr City

Real estate developer Marseilia Group announced signing an MoU with UAE-based Amlak Finance to develop a project in Nasr City, according to a DFM disclosure. Amlak will provide a 42,676 sqm land plot overlooking Al Ahly Club for the development, which will include residential and administrative buildings, a hotel, and a shopping mall. Marseilia Group will take charge of the project’s development of the project under a partnership agreement the two sides will sign. The National Bank of Egypt’s DIFC subsidiary is facilitating the agreement, the value of which was not disclosed.