cred is to launch its new integrated residential project, which will be built on an area of ​​40 acres in a prime location in Sheikh Zayed, in addition to studying new investment opportunities in many vital and strategic areas in East Cairo and the North Coast, Invest-Gate reports.

“We seek to benefit from the great successes we have achieved recently, especially in our pioneering project (Castle Landmark) in the NAC and we aim to expand our business volume and enhance our presence in the Egyptian real estate market during the coming period. Moreover, entering the 6th of October City, to develop our latest projects,” Ahmed Mansour, cred CEO, says.

Besides, cred is able to achieve total sales of more than EGP 4 bn in its largest and most important project, “Castle Landmark”, out of a total target of EGP 5 bn, since the project’s launch, including contractual sales of EGP one bn in 2021 for the residential part in the “Castle Landmark” compound. Also, sales of EGP 200 mn for the commercial part of the Castle Gate Mall.

cred is developing a number of projects in the NAC, like the “Castle Landmark” project, which is an integrated residential project built on 43 acres with investments of EGP 3.7 bn, with1800 housing units, apart from 196 administrative and commercial units.

The fifth and final phase of “Castle Landmark” was launched in 2021 with 500 units that are already being marketed, and phase I of the project is scheduled to be delivered in the last quarter of this year, and deliveries will be completed successively according to schedules, with a phased delivery every six months to be completely delivered for all units in December 2024.

Furthermore, Castle Landmark provides a full range of services that meet all the customers’ needs. The commercial area also includes the Castle Gate Mall, which is located on an area of ​​20 acres, with a total investment of EGP 700 mn, and 196 units, and the excavation work has been completed.

cred’s second project is a mixed-use “East Side” in the MU23 area, with a total investment of EGP 800 mn, and it will be launched in the second half of the current year. The company aims to achieve contractual sales of EGP 400 mn during this year, it also includes medical and administrative spaces and retail stores.

It bears mentioning that the “East Side” project relies on solar energy for 50% of its energy needs.