Inertia Egypt Holding is set to embark on its first phase of a 120-acres- residential project on Cairo Alex Desert Road, at a total cost of EGP 1.7 bn, as of next month January 2017, according to Inertia CEO Ahmed El Adawy, Al Mal reported.
The construction tenders will be offered following six months of project marketing. The project is expected to be a full-serviced residential compound that will be developed through four phases and the first phase will be finalized within three years.
The project includes residential units with floor plans ranging from 120 square meters to 240 square meters, ranging between townhouses and twin houses, added El Adawy, who noted that apartments make up 40% of the total units within the project.
The compound is also expected to include amenities such as a nursery, mosque, commercial areas, and a social club, he added.
The company also plans to pump EGP 800 mn in Veranda Resort located in Sahl Hasheesh, which includes 130 residential units within the first phase that is scheduled to be finalized in December and marketed next April.
Inertia will be developing the second phase of the Veranda Resort project, which will have an area of 120,000 square meters and include studios and apartments, along with a health club, private beach, and commercial outlets.