Arab Finance: Madaar Developments had fully sold the first and second phases of its newly launched The Hillage project in Sheikh Zayed City, generating sales worth EGP 12 billion, according to an emailed press release.

The project is expected to generate total investment returns of around EGP 45 billion.

The Hillage is being developed on what Madaar described as the last available land plot in Sheikh Zayed, with direct access to central Sheikh Zayed and the Cairo-Alexandria Desert Road.

The 100-feddan project is designed as a boutique smart community, with 86% of the total area allocated to green spaces and car-free open areas, the developer said in a statement on Saturday.

Madar said the project adopts the “five-minute city” concept, aiming to provide residential, commercial, sports, and entertainment facilities within walking distance.

The developer plans to complete the project within four years through what it described as accelerated construction rates.

The Hillage includes around 1,000 residential units, including standalone villas, twin houses, townhouses, and serviced apartments, in addition to a commercial zone and a sports and social club.

The announcement follows Madaar’s previous developments, including “Azha Ain Sokhna” and “Azha Ras El Hekma.”