Edge Stone, a prominent player in the real estate and contracting sectors, has commemorated the successful sale of the entire initial phase of its Moraya project in the New Administrative Capital (NAC), achieving a noteworthy sales figure of EGP 1 bn, Invest-Gate reports.
The celebration took place at the company’s headquarters, attended by a distinguished gathering of clients and the workforce.
Tarek Zein, Vice Chairman of Edge Stone, highlighted the overwhelming interest in the Moraya project since its inception, evident in the swift completion of the first phase’s sales within a month of its launch. The company’s strategy of prioritizing construction followed by sales played a pivotal role in fostering customer trust and solidifying the company’s reputation. As a testament to this approach, construction progress at Moraya has surged beyond 70%.
Zein emphasized that Moraya, spanning 25 feddans in the NAC’s R8 area, is a residential compound strategically positioned with a direct view of the Green River, in proximity to the diplomatic enclave and the monorail station.
Featuring 1,050 fully finished residential units ranging from 154 sqm to 310 sqm, complete with air conditioning, Moraya comprises four phases and incorporates an administrative commercial mall hosting a variety of brands.
The group sets its sights on surpassing sales of EGP 4 bn by the close of 2024, offering diverse and adaptable payment schemes such as a 10% down payment with a 6-year repayment period, a 15% down payment with a 7-year repayment term, and a 20% down payment with an 8-year repayment span.
Zein unveiled the company’s expansion blueprint, outlining plans to unveil a series of projects in the new administrative capital in the near future.
It is noteworthy that Edge Stone operates as a holding company from which a range of subsidiary companies emerge, encompassing a contracting firm, a real estate development entity, an agricultural and poultry reclamation enterprise, and an advertising agency. Edge Stone maintains multiple branches across various countries, including Edge Stone Germany, Saudi Arabia, and Dubai.
