With EGP 450 mn of targeted sales, CMD Developments launches the second phase of YARU Compound in NAC and registration is now open, Invest-Gate reports.
CMD’s CEO & Co-founder Wael Zain states that the company has succeeded in selling the first phase of the YARU Compound project, adding that the company has begun the excavation work for the project’s second phase.
He further points out that the drilling licenses and the statement of validity have been completed with the final licenses are being extracted.
“YARU’s second phase includes 267 residential units and 14 villas, with areas ranging from 70 to 240 sqm,” Zain reveals.
Additionally, Zain highlights that CMD Developments has signed an alliance with Qontrac at target investments exceeding EGP 4 bn, aiming to carry out the EGP 2 bn- YARU Compound. Moreover, the project is targeted to achieve sales of up to EGP 3 bn.
Furthermore, Zain declares, “We aim to implement huge mergers and acquisitions in the real estate market, through implementing a number of projects in the NAC, New Cairo and New Alamein.”
It’s worth mentioning that YARU Compound, the alliance’s first work, is a residential, commercial, administrative, and hospitality project that spans over 37 acres, featuring 1,577 units, including 1,464 residential units, 48 hotel rooms, and 34 commercial units.