Egypt’s Al Maadi Group Real Estate Development has completed 40 percent of its flagship Family Home Compound in Mokattam district, southeastern Cairo, its chairman Ahmed Labib said Wednesday.
“We target total returns estimated at 200 million Egyptian pounds ($11.1 million) from the residential project, which is set to be completely carried out at the end of next year,” Labib further told Amwal Al Ghad.
The project is being executed on a space of 40,000 square metres, the Egyptian official stated, adding that it will include 200 various housing units.
Moreover, Labib said that Al Maadi also plans to implement a new fully-fledged project on a space of ranging between 20,000 square metres and 50,000 square metres in the state’s New Administrative Capital, some 40km (24.8 miles) east of Cairo.
