New Vision, a real estate investment company, aims to raise their investment portfolio in the Egyptian market to EGP 1 billion through investments in New Cairo and Mohandessin, where the company is set to launch five new projects by the end of 2019, said Chairman of the Board of Directors, Mohamed Kamal, Al Mal reported.
Investments for these projects is planned to reach EGP 70 million.
A number of projects will be carried out by the company in New Cairo, New Maadi, Heliopolis, and Mohandessin over areas between 500-1000 square meters with residential units between 100 and 240 square meters. The projects will target middle income and high middle income earners through providing flexible payment plans, explained Kamal.
The company is considering working in joint venture projects with the public and private sector and has previously contributed to the early stages of “Marassi” North Coast Project, with Emaar Misr for Development.
New Vision currently has investments of up to EGP 350 million, according to New Vision’s General Manager, Ahmed Abd El Ghaffar.
The company will deliver 4 projects in the first half of this year, and 3 more projects will be completed by the end of this year.