Oscar Misr Developments is planning to launch three new projects during the current year in Beit Al Watan housing project, New Cairo, with investments worth EGP 35 mn, Invest-Gate reports.

The new projects comprise three distinctive buildings, whereby each project spans across an area ranging between 600 and 1,000 square meters and boasts units varying in areas between 128 and 350 square meters, the company’s chairman Mohamed Beheiry revealed in a recent press statement.

Beheiry explained that Beit Al Watan is expected to witness a great demand in the coming period, especially the units developed within separate buildings since they meet the needs of a large segment of customers.

Meanwhile, he pointed out that Oscar Misr is also developing several other projects across the country such as Oscar Planet, a mini-compound implemented on an area of 1,550 square meters in New Cairo and includes about 40 units with varying areas ranging between 118 square meters and 350 square meters, in addition to the development of some separate buildings in New Cairo and El Shorouk City, east Cairo.

In addition, the chairman noted that the Egyptian developer is self-financing all of its projects and is committed to delivering its projects based on the agreed timeframes.

During 2019, Beheiry expected a rise in units’ prices by 20% as a result of the natural annual growth rates in the market, however, he confirmed that there will be no further price hikes following the second EGP floatation and other economic reform procedures.