Eastern Real Estate LLC prepares to launch its new residential project, “Genova”, in Sheikh Zayed City, with investments of EGP 3 bn in January 2021, Invest-Gate reports.
“Genova lies in a premium location in Sheikh Zayed City on an area of 20 acres with a total investment of 3 EGP bn”, Mohamed Talaat Abu El-Nasr, Chairman of Eastern Company, reveals.
Abu Al-Nasr further elaborates that the architectural plan and blueprints of the project have been approved, and implementation will start in 2021. “We plan to pump EGP 100 mn in construction during 2021”, he adds. He further reveals that the company provides convenient payment terms with 10% downpayment and a 10 year- installment plan. He also guarantees its potential clients 5% resale profit and a 25% annual rent profit on units of branded residence types.
Furthermore, Abu Al-Nasr highlights that the company has developed an expansion plan for several new projects in West Cairo in the coming period. Genova offers a living experience with luxurious amenities, according to the statement.
Sales Director Hisham El Foly says, “We aim to achieve over EGP 1bn of target sales,” highlighting the different amenities Genova will feature. Genova offers 768 residential units of different sizes ranging from 126 to 220 sqm. The newly developed residential compound will also include a health club, social club, and a cultural one on an area of 8000 sqm. This mega recreational complex is to managed by an international brand, which Eastern Real Estate has still to reveal; and will further comprise a shopping mall, restaurants and cafes, a number of banks, and a medical center. Genova plans to have bike lanes on all its streets and will also develop its own “My Genova” app to facilitate its residents’ lives.
The developer’s Architecture Consultant Magdy Matar confirms that spaces within each unit are put into better use and that there are no wasted space. “We provide home owners with a number of designs that caters to a wide range of different tastes, making sure that every space is being used,” he elaborates.