Ibtkar Real Estate Company is set to launch a new project in the New Narges area of New Cairo, offering a range of unit areas and easy payment plans following the success of their previous projects in the area, Invest-Gate reports.

The company has a diverse land portfolio in New Cairo, with two projects currently available, including the new Al Narges area project.

Ali Arafa, Director of the Sales Sector at Ibtkar Real Estate Company, explains that the project boasts a double-faced location overlooking a 5-acre garden and is close to two main streets, Mohammed Naguib and Gamal Abdel Nasser.

Notably, Ibtkar offers up to 72-month payment plans, with a 20% down payment required for the housing units. The project includes units with various areas starting from 190 sqm. Also, the company aims to achieve EGP 30 mn in real estate sales for the project.

Arafa noted the recent boom in the real estate sector, particularly in New Cairo, since it has seen high demand due to its proximity to new cities such as the Administrative Capital City, Heliopolis, Nasr City, Al Rehab, Madinaty, and Mostakbal City.

Sales are expected to increase in the coming period, as investments in the real estate sector offer high returns to customers, making it a popular choice compared to other economic sectors, Arafa adds.