After an overwhelming launch on Sunday that saw thousands of potential customers swarm the Mountain View offices in Heliopolis, the real estate giant announced Monday that Phase I of Mountain View iCity has sold out.
With some users posting negative comments on social media, the company is handling complaints like true professionals, replying to every post and thanking customers for their trust and even issuing an official apology “for the overcrowding caused due to the unprecedented turnout to book units”.
Mountain View iCity is a comprehensive real estate development in New Cairo City worth $3.6 billion and will include 20 million square meters of residential space and create 200,000 direct and indirect jobs, the company said in a press release.
It is also one of the country’s first major public-private partnerships, with 60% of the project owned by Egyptian-Saudi alliance Mountain View-Sisban and 40% by the Egyptian Ministry of Housing’s New Urban Communities Authority.
“Today we are reaping the benefits of the Egypt Economic Development Conference in Sharm El Sheikh,” Egyptian Minister of Housing, Utilities and Urban Development Dr. Mustafa Madbouly said at a press conference last week. “This project reaffirms the confidence investors have in every facet of the Egyptian economy, and especially in the real estate sector, one of the pillars of our national economy.”
The memorandum of understanding for Mountain View iCity was signed at the Egypt Economic Development Conference in Sharm El Sheikh last March 2015.
“We are confident that Egypt is a promising market with huge potential for investment,” President of Sisban Holdings Ali Al-Sharif said. “There is also the benefit of the possibility for foreign investors to own property in Egypt, which has Saudi, Arab and global investors looking forward to confidently place our investments there and consolidate our presence in our second home.”
Mountain View iCity promises six distinct parks, each with their own architectural style, landscaping and lifestyle personality. Offering 18,000 modern and affordable homes, the units are designed like villas but sized like apartments ranging from 100 to 500 square meters, each with its own entrance, green space and parking.