PROJECTS: Beta Egypt to deliver residential project in Mostakbal City ahead of schedule

First phase of Beta Greens New Cairo would be delivered in Q2 2021

  
A worker wearing a protective face mask stands on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

A worker wearing a protective face mask stands on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

REUTERS/Mohamed Abd El Ghany

Beta Egypt will deliver its one billion Egyptian pounds ($63.7 million) Beta Greens New Cairo project in Mostakbal City one year ahead of its original completion timeline of 2024, the company chairman said.

Alaa Fekri told Zawya Projects that the overall construction work of the 730-unit project is 65 percent complete and the first of its three phases would be delivered in the second quarter of 2021.

"The first phase's 300 units would be delivered by June 2021, and the whole project would be fully delivered by 2023, one year ahead of the scheduled deadline," he said.

Fekri added that construction of the first phase is 75 percent complete.

Beta Egypt also announced the launch of 'Family Villa' concept within the Beta Green New Cairo project.

"The need for that type of product appeared more during the COVID-19 crisis and the imposition of curfews," said the Chairman adding that 62 villas would be built.

Beta Egypt for Urban Development has implemented a number of integrated real estate projects in East Cairo's Obour City and West Cairo's Hadayek October.

(1 US Dollar = 15.70 Egyptian Pounds)

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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© ZAWYA 2020