|28 August, 2019

City Edge Developments logs $906mln property sales in Egypt

City Edge Developments is 60% owned by NUCA

Egyptians walk at the housing project "Long Live Egypt", at Al-Asmarat, a housing complex in Al Mokattam area, at Cairo's desert outskirts, Egypt September 12, 2018.

Egyptians walk at the housing project "Long Live Egypt", at Al-Asmarat, a housing complex in Al Mokattam area, at Cairo's desert outskirts, Egypt September 12, 2018.

REUTERS/Amr Abdallah Dalsh

Cairo –   City Edge Developments generated sales of EGP 15 billion in favour of the New Urban Communities Authority (NUCA) within the twelve-month period ended 31 July, the company’s CEO Amr El-Kady said.

Sales are divided between North Edge Towers in New Alamein City, Zahya towers in New Mansoura, and Al Maqsad in the New Administrative Capital, El-Kady told reporters on the sidelines of a press conference on Tuesday.

It is noteworthy that City Edge Developments is responsible for marketing projects in the New Administrative Capital, New Mansoura City, and New Alamein City.

The real estate developer is a joint venture between NUCA with a 60% stake, the Housing and Development Bank with 38%, and the Holding Company for Investment and Development with 2%.

Source: Mubasher

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