The Saudi Egyptian Construction Company (SECON) marketed 60% of the first phase of Riyadh-SECON project in New Cairo, reported Al Borsa News.
The Riyadh-SECON project sprawls over an area of 68 acres with investments estimated between EGP 2.8-3 billion, reported Amwal Al Ghad.
Reservations for the project were opened in June for 1,897 units over the three phases of the project, said Darwish Hassanein, CEO of SECON.
The first phase will include 48 buildings with 777 units, while the second phase will include 36 building with 460 units, and the third phase will have 36 buildings with 660 units, added Hassanein.
The residential units range between 145-195 square meters, with the project scheduled for completion by 2019.
SECON was established in 1975 as a joint venture between the Egyptian and Saudi government.