Amaer for Real Estate increased the prices of units in one of its Nasr City projects by 10% in the past two months, according to Hany Mokhtar the company’s Chairman, reported Al Mal.

Mokhtar attributed to increase to the heightening prices of building materials and production costs in recent months.

The company however is offering a 5% discount on the new increased prices for its properties until the end of December, aiming to implement the full increase in 2017.

The project, built on 21,000 square meters, includes 1,200 residential units, with sizes ranging between 88, 115, and 132 square meters, in addition to 250 commercial units, Mokhtar added.

The company was established in 2007 and has implemented several projects, including its prominent Amaer Nasr City.