Egyptian developer Mountain View wil start construction of its 8-billion-Egyptian-Pound  ($510 million) Lagoon Beach Park, the latest phase of its iCity mega project in New Cairo, in the fourth quarter of 2022, the company's chairman said. 

Amr Soliman told Zawya Projects that the construction of the project, which comprises of 1,500 residential units spread over an area of 100 acres, and a lagoon, will start by the end of 2022 and complete in 2026. 

The 65-billion-pound ($4 billion) iCity, spread over an area of 500 acres, is a joint venture between Mountain View and New Urban Communities Authority (NUCA). 

Last month, Zawya Projects had reported that Mountain View intended to deliver a total of 2,400 residential units of its iCity New Cairo mixed-use project in 2021. 

(1 US Dollar = 15.70 Egyptian Pounds)  

(Reporting by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com)  

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