Beta Egypt for Urban Development has officially delivered Beta Greens compound at October Gardens, west Cairo, six months ahead of schedule.
Stretching over 20 acres, Beta Greens is the first compound to be implemented in October Gardens, encompassing the first sports and social club in the district, which spans across 2.5 acres, Beta Egypt’s Chairman Alaa Fikry announced in a press conference held on February 18 to mark the project’s full delivery, where he handed over a total of 840 units.
During the conference, the chairman highlighted that the fully-integrated project has witnessed an uplift in its implementation costs, following the EGP flotation in 2016, due to the rise in the materials’ prices, which resulted in an 80% hike in Beta Greens’ planned costs.
In addition, Fikry noted that Beta Egypt is currently working on the first phase of Beta Greens New Cairo – its latest project in Mostakbal City, east Cairo, adding that it will be carried out over six phases within five years and is set to be delivered in 2021. It will comprise 3,000 housing units with various sizes and modules, including apartments, penthouses, and villas, he added.
Fikry confirmed that the property developer targets achieving a total of EGP 1.2 bn in sales of Beta Egypt’s projects across Egypt in 2019, underlining that the company has already logged EGP 800 mn sales in the prior year.
Out of its keenness to develop fully-integrated projects in the country, Beta Egypt is currently studying the acquisition of a land plot in one of Egypt’s coastal cities, however, he did not reveal any further details regarding the project.