Cairo –  Alsedek Real Estate is planning to develop two projects in 6th of October and Nasr City with total investments of around EGP 550 million.

Situated on 8,000 metres, the company’s project in 6th of October will cost between EGP 250 million and EGP 300 million, Alsedek’s chairman Mohammed Hamid told Mubasher.

The construction of the new project is planned to be commenced early 2019, he added.

Alsedek will execute EGP 250 million residential and commercial project in Nasr City on 1,000 square metres, Hamid revealed.

Scheduled to be delivered within 30 months, Nasr City’s property will comprise 72 residential units and 12 commercial units, the top official noted.

Since the beginning of 2018, Alsedek Real Estate has pumped EGP 400 million in various projects in Egypt out of EGP 500 million planned to be injected over the year, Hamid remarked.

Hamid stated that the real estate investment firm’s projects are located in Maadi, Heliopolis, Nasr City, 6th of October, and North Coast.


Translated by: Muhammad Khalid

Source: Mubasher Exclusive

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