Some fifty kilometres from Cairo, Egypt's new administrative capital is being built in the desert. In September, Egypt's prime minister, Mostafa Madbouly, visited the new ministry of finance headquarters in what will become the government district.
Meanwhile, work has started on a compound some ten minutes away from the government district. Egyptian company Mardev Developments showcased this project at the Cityscape Egypt real estate fair at the weekend.
The name of this compound is Menorca. With investment of some 1,500 million Egyptian pounds (80 million euros), Menorca is in the R8 Zone and it will be characterised by its modern architectural style.
A futuristic arch with the name of the island will mark the entry point of a compound of sixteen hectares. Next to two international hotels, Menorca will be a mostly residential district with public buildings, a shopping centre and a mosque.
Prices of residential properties in Menorca, according to one real-estate website, start from 1,642,950 Egyptian pounds (some 90,000 euros).