At a investment cost of EGP 45 mn, Reiada for Real Estate is to develop Utopia, a mini compound as part of Bait Al Watan project , in New Cairo, Al Mal reported.

Scheduled to be delivered in four years, the project will spread on an area of 2,400 square meters and will consist of three residential buildings, including 44 residential units ranging from 118 to 220 square meters, according to Reiada General Manager Ahmed Gamal.

The company plans to offer different competitive investment opportunities and a payment plan of a 10% down payment with the rest to be installed throughout a 100- month-period without interest or administrative fees.

Reiada for Real Estate will gradually increase it prices by 10% due to the flotation of the pound and the increase in the prices of building materials, Al Borsa stated.

Gamal also added that the company is currently delivering 15 projects in 2017 in several areas in Cairo at a total investment cost of EGP 200 mn.

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