Sunday 09 Mar
IL CAZAR Developments, a leading real estate developer, is set to deliver 300 units in its Creek Town project in New Cairo during the first quarter of next year, according to Chairman Nader Khozam.
He added that these units comprise townhouses and standalone villas, ranging in size from 200 to 400 square meters. Creek Town, the company's second project, is situated on the road to the First Settlement and spans 100 acres. The project features extensive green spaces and landscaping, occupying approximately 80% of the total area, while buildings account for the remaining 20%. This translates to a built-up area of around 300,000 square meters, divided into three phases.
Khozam elaborated that the total
investment in Creek Town surpasses 11 billion Egyptian pounds. The project
encompasses 1,500 residential units, all of which have been sold, generating
sales valued at approximately 17 billion Egyptian pounds. The commercial,
hotel, and administrative units have yet to be launched.
The project offers a diverse
range of housing options, including standalone villas, townhouses, and
apartments, with sizes varying from 120 to 400 square meters. The residential
buildings, comprising 5 floors, are 100% complete. The entire project is slated
for completion by the end of 2026, with Shadad Contracting Company overseeing
construction.
Founded in 2019, IL CAZAR is currently developing nine projects across approximately 1,000 acres of land. The company successfully met its 2024 targets, delivering roughly 500 residential units and 100 commercial and administrative units. IL CAZAR anticipates delivering 1,000 residential units by the end of 2025.
