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| 17 July, 2017

Nile Real Estate launches Nile Park New Cairo project - Phase I

Tractors are seen at the Tahya Misr housing project in Al-Asmarat district, Al Mokattam, east of Cairo, Egypt June 2, 2016. REUTERS/Amr Abdallah Dalsh

Tractors are seen at the Tahya Misr housing project in Al-Asmarat district, Al Mokattam, east of Cairo, Egypt June 2, 2016. REUTERS/Amr Abdallah Dalsh

REUTERS/Amr Abdallah Dalsh

17 July 2017

Cairo-based Nile Real Estate Company says it has launched the first phase of Nile Park residential project in New Cairo.

Nile Park is part of the country’s Beit Al-Watan, a project that allows Egyptian expatriates to own lands in their homeland.

Mohamed Taher, Nile’s chief executive, said Saturday that the 6,000-square metres mini compound project is being implemented in three phases.

Taher added that the first phase includes 24 units, at spaces ranging between 133 square metres and 178 square metres.

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The prices of the units start from 5,600 and 7,200 Egyptian pounds (($311.6 - $400.6), with a 10 percent down payment and facilities of up to 7 years, he said.

“We will complete the project at the end of 2020,” the Egyptian official further noted.

Taher stated that Nile Co. is carrying out a number of different buildings at El Lotus Area in the Fifth Settlement and in the state Beit Al-Watan project.

© Amwal Alghad 2017