Leading Egyptian developer Wadi Degla has started construction work on its major residential project, Neopolis, which will come up on a 2.2-million-sq-m area in New Cairo, said a report.

The project, located in the Future City, will boast of about 14,000 housing units with varied sizes in addition to commercial and entertainment services, green areas, and the Wadi Degla club, reported Daily News Egypt, citing a top official.

The Neopolis project is one of the company’s major projects, which is expected to net sales worth E£33 billion ($3.6 billion), stated Wadi Degla CEO Maged Helmy.

The project is being developed in four phases, with the company delivering the first phase by 2020.

Helmy said the company will focus in the next phase on the construction of housing units for middle-income and upper middle-income classes to cover the growing demand in the Egyptian market, the report added.