ARDIC for Real Estate Development and Investments is set to invest EGP 1 bn in the first and second phases of its newest project, Zizinia El Mostakbal, in east Cairo, Invest-Gate reports.

CEO of ARDIC Ashraf Dowidar said Zizinia El Mostakbal is part of the developer’s plan to boost its investments in the Egyptian market and is being constructed to equip residents for the future through the provision of “smart” technologies that will connect the entire residential community together, he revealed in a released statement on February 26.

Dowidar uncovered that the residential units in the first and second phases of the 70-acre compound have been sold out.

He added that Zizinia El Mostakbal comprises a total of 1,806 residential units ranging in sizes from 160 to 570 square meters and is expected to be delivered in 2020.

The CEO noted, “The preservation of nature is crucial to the philosophy behind Zizinia El Mostakbal as the project has allocated 80% of its area to greenery landscapes. The compound will also provide facilities for residents that include recreational, commercial, and medical centers, in addition to a sports area, bike tracks, and numerous parks and gardens.”

Earlier, ARDIC had obtained a 310-acre land plot in New Minya to develop an integrated urban housing project, while aiming to make a pilot launch for the project to study the market in Upper Egypt, as well as, the customers’ preferences.