ARDIC for Real Estate Development and Investments has signed a cooperation protocol with the Federation of Cooperative Housing (FCH) to deliver 500 units of Zizinia El Mostakbal’s total number of residential properties – or 25% of the project, situated in east Cairo, Invest-Gate reports.

During the signing ceremony on April 3, between CEO of ARDIC Ashraf Dowidar and FCH’s President Ahmed, the former highlighted that this deal reinforces ARDIC’s leadership in the Egyptian real estate market.

Dowidar noted, “Through this protocol and by offering the 500 units, Zizinia El Mostakbal’s total sales to reach 85% of the total units, adding up to the 60% that had been previously made prior to this signing.”

“First two phases of the project are scheduled to be delivered in 2020,” the CEO confirmed.

Additionally, Dowidar revealed that ARDIC will invest EGP 1 bn worth of investments in Zizinia El Mostakbal during 2019, pointing out that the total investments pumped into this project are expected to reach EGP 3.8 bn.  

Zizinia El Mostakbal is a 70-acre compound in Mostakbal City, offering 1,806 residential units ranging from 160 to 570 square meters. Besides its top-notch designs, the project comprises 80% greenery landscapes, providing a plethora of facilities for residents that include recreational, commercial, medical centers, as well as, a sports area, bike tracks, and a number of parks and gardens.