Friday 22 Nov
Chairman of the Board of Directors of Mabany Idris Real Estate Development Company, Engineer Mohamed Idris announced plans to acquire new land in the coming period. The company has identified areas in North Coast and East Cairo for potential projects.
Idris further stated that strong
demand exists in both regions due to their proximity to major developments such
as the New Administrative Capital in East Cairo and the Ras El Hekma project in
North Coast.
He pointed out that the
company is currently working on several projects, the latest of which are the
Koun project in Ras Al Hekma and the Asayla project in New Asiut.
The company is also preparing
to launch the second phase of the Koun project in the North Coast, Ras Al Hekma
area. They completed the licences and ministerial decree during the past year.
In the first phase, the
company has sold about 500 units for a total of EGP 3.7 billion. Their goal for
the second phase is to sell 590 units for a value of up to EGP 10 billion this
year, he said.
