Ardic Developments pumps EGP 400 mn into Zizinia during 2021 to start the first phase of its Zizinia project in Mostakbal City, where the company signed the first tranche with a value of EGP 250 mn to complete the external finishes and infrastructure works, with the delivery to be next year, Invest-Gate reports.

Eng. Hisham Abdel Khaleq, CEO of Ardic Developments, says that work is underway within the project to finish the works of the first phase, as well as the infrastructure of the project, which includes facilities, green spaces and lakes, in cooperation with four contracting companies.

Zizinia El Mostakbal project is characterized by vast green spaces as it occupy 80% of the project in addition to water lakes. The delivery of the first phase of Zizinia El Mostakbal is scheduled to begin in June 2022, and the total investment of the project is EGP 5 bn.

The Zizinia El Mostakbal is in the heart of New Cairo, covering more than 70 acres with innovative designs of units of different sizes, penthouses, and ground units. The areas of the offered units start from 85sqm.

Ardic Developments was established in 1998 from strategic shareholders, including a group of Egyptian banks, insurance companies, and major investment companies, with a capital of EGP 500 mn. Since its establishment, the company has started to expand at a steady pace in the Egyptian real estate market, as it has acquired several large residential and commercial projects. Ardic is the owner and main developer of Zizinia with a total of five residential projects.