Developer X for real estate, a member of the Shura Group, launches two projects in Sheikh Zayed and New Cairo, Invest-Gate reports.
The two projects aim to achieve contractual sales of EGP 1 bn in 2021, according to a company press release on April 1.
On his part, Ahmed Fouad, CEO of Developer X, says that the company has proposed two projects, the first one is Ourika, a residential project on an area of 16 acres in Sheikh Zayed. The first phase of the project is being launched with 45 villas, townhouses, and twin houses.
He further points that the company offers a variety of payment systems with 5% reservation payment, 5% contract payment with installment for up to eight years. Prices for the Town Houses start from EGP 2.9 mn and reach EGP 5 mn for independent villas. The project will be delivered within three years.
“The project is designed with a distinct Moroccan character, linking originality and contemporary in stunning architectural designs,” he elaborates. “Townhouses units span over an area of 350 meters and a building area of 205 meters while the twin house extends over an area of 350 meters and a building area of 255 meters, with a down payment starting from EGP 145,000 and a monthly installment of 28,000,” the CEO of Developer X adds.
Moreover, he says that the second project, Muse, is an administrative commercial activity in partnership with the Saad Eddin Group. It consists of administrative offices with areas ranging between 80 and 150 meters in New Cairo. The company plans to launch the first phase of the project soon.
Furthermore, he emphasizes that there is a high demand for investment in commercial and administrative projects, especially in cities with limited spaces dedicated to commercial and administrative activities. “There is a high revenue on investment in commercial and administrative projects,” he points out.
“The project is an integrated commercial and administrative project that includes the finest and strongest brands of restaurants and entertainment services. The project includes a small hotel to serve businessmen in this area,” the CEO concludes.