Thursday 21 Nov
Residence Development Company is set to embark on the development of the fourth phase of their Aroma Residence project in Ain Sokhna. This phase will encompass 25 acres of land, part of the project's total 85-acre expanse, according to Wael El-Shahed, the company's CEO.
El-Shahed revealed that the
company intends to allocate 750 million Egyptian pounds for the project's
construction. The anticipated revenue from this phase is projected to reach 2.5
billion Egyptian pounds. He further highlighted that the cumulative investment
in the entire project surpasses 6 billion Egyptian pounds, with the company
having already invested 500 million Egyptian pounds in construction endeavors.
El-Shahed explained that the company has a comprehensive development strategy and has identified several promising investment prospects for a new project launch next year. He confirmed that they are meticulously evaluating opportunities in strategic and appealing investment zones within both West and East Cairo, as well as the North Coast. The goal is to select the most advantageous option for the company's clients and introduce a new project in 2025.
