The approval of the master plan of Mountain View’s I-City is underway and should be expected within the coming few days, according to Eng. Ragaa Fouad, a Planning and Projects division Supervisor at the New Urban Communities Authority (NUCA). Upon its approval and issuance of building permits, construction work will commence at the site. The project is a Ministry of Housing-Mountain View-Sisban Holding co-development project, with a 40% share to the government, in return for its land contribution. The project’s MoU was signed originally at the Egypt Economic Development Conference (EEDC) held in Sharm El-Sheikh in March 2015. I-City will be spread over 500 acres and will include c18,000 residential units. Starting selling prices for phase I were at EGP7,000/sqm, which the market received with much interest, when the project was launched last week. (Al Borsa)