Arab Developers Holding’s Nyoum Mostakbal Achieves EGP 2.6 Bn Sales in 9 Months

Arab Developers Holding’s Nyoum Mostakbal Achieves EGP 2.6 Bn Sales in 9 Months

Egyptian real estate giant Arab Developers Holding announces selling 980 units in its landmark, Nyoum Mostakbal project, in East Cairo for EGP 2.65 bn in nine months, Invest-Gate reports.

Speaking to journalists on a project site tour, company leaders detailed their 15-project portfolio – including 13 based in Egypt spanning 317 feddans.

Nyoum Mostakbal, their fifth East Cairo development, covers 61 acres in the emerging district of Mostakbal City near the new capital.

London firm WATG designed the vision for Nyoum’s “world of the future,” using landscaping to integrate housing, amenities, and a signature golf course by Green Tyger Design.

Nyoum includes 4,633 units, 382 feature villas from 47-168 sqm, and 3,092 apartments of 28-74 sqm overlooking greenery.

The project also comprises 1159 mixed-use units along with recreational and service facilities, including schools, a club, and a shopping mall.

Chairman Gamal Fathallah credited the company’s five Mostakbal projects for driving the first nine months of 2023 sales growth, domestically outperforming peers.

CEO Ayman bin Khalifa reported construction has reached 68% in Phase One villas and 18% overall after an EGP 100 mn investment so far.

The company plans to invest EGP40 mn in the project during the last quarter of 2023, he added.

Bin Khalifa revealed that the company plans to increase spending volumes to EGP 460 mn during the next year, to deliver the units in the first phase during the next year.


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