Egyptian Edge Holding for Urban Development says it has posted contractual sales of 600 million Egyptian pounds ($36.2 million) from Oia Compound in the country’s new capital during the first half of the year.
The real estate developer targets new sales up to 1.5 billion pounds at the end of this year from its fully-fledged residential project that span over 30 feddans, its commercial sector manager Karim Mahmoud told Amwal Al Ghad on Tuesday.
The project includes 1,280 various housing units and one commercial centre spanning over 14,000 square metres, Mahmoud told Amwal Al Ghad.
Last December, Edge Holding obtained the ministerial approval on the four-phase project, Mahmoud said.
Established in 2018, Edge Holding is a result of a huge mutual fund between Al- Borouj Egypt and El-Mashareq in Saudi Arabia.
The company, founded to capture the huge investment opportunity in Egypt, has a huge vision for the real estate business in Egypt and with huge plans for the future.
