The launch of I-City is reported to have attracted a large crowd, hours before the official launch of the project, at the headquarter of Mountain View. This has led the company to take measures to limit speculative buying, including limiting the number of units per client to one and requiring a down deposit of EGP100,000/unit (rather than the originally announced 10%). There were market talks that the company raised its selling prices by EGP1,000/sqm to EGP8,000/sqm, but this has not been confirmed. I-City will be spread over 500 acres and will include c18,000 residential units. The project is a Ministry of Housing-Mountain View-Sisban Holding co-development project, with a 40% share to the government, in exchange for its land contribution. The project’s MoU was originally signed at the Egypt Economic Development Conference (EEDC) held in Sharm El-Sheikh in March 2015. (Al Borsa)