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Icity Mountain View 6 October Asked Mountain View Real Estate Investment Company, the first phase of its project «icity» 6th of October City early in the second quarter of 2017, while the targeted 2 billion pounds, the third phase of «E-City» Sales in New Cairo, due to be the first quarter. Engineer Amr Soliman, the company’s chairman told «bourse»: The «icity sixth of October» includes 10 stages of construction on an area of 500 acres, and expected issuance of the ministerial decree of the project during the first quarter of 2017. The project develops across the alliance «Mountain View» and «Sesbania Holding Arabia.» The Office of the company «Calceon» prepare designs in partnership with the Ministry of Housing. Suleiman added that the project revenue up to 26 billion pounds, 30 percent of which the state’s share, equivalent to 7.5 billion pounds, paid off, including 4.8 billion in cash, and the remaining stake in kind represent 11.8% of the built-up and salable space, to pay 75 million pounds upon signing contracts, and the rest in annual installments over the duration of the project. Sulaiman said: The alliance, signed «Callison» American working in the field of architecture and design management, to carry out studies on the cities draft October 6 and New Cairo. They agreed to develop three residential projects in the cities of Riyadh and Jeddah, Saudi Arabia initial investments of up to 5 billion pounds. Suleiman explained the company put up the third phase of the city of «icity» in New Cairo during the first quarter of 2017, targeting sales of stage 2 billion pounds, after the demand for reserve units first and second phases of the project. The company posted sales of $ 4 billion pounds in the first and second phases in «icity» project in New Cairo, as the price of units ranged in phases between 7.5 thousand and 11 thousand pounds by location. It is «icity» project Fifth Avenue on an area of 500 acres, a total of 35 billion pounds revenues, the state’s share of which 40% of the value of 14 billion pounds, represented in a minimum payment of cash worth 10 billion pounds to 10 years, and the rest in kind share of 11.6% of built-up areas and salable. Signed Urban Communities Authority, a partnership contract with the Alliance of Mountain View MY COMPANY Egypt, Saudi Arabia and Sesbania Holding, to develop «icity» New Cairo City project, on an area of 500 acres.