Edgestone Developments revealed launching its first project, Moraya, in the R8 District in the New Administrative Capital (NAC), aiming to achieve target sales exceeding EGP 6 bn by the end of 2023, Invest-gate reports.

Tarek Zein, Chief Executive Officer of the group, clarified that the company has a different strategy, involving the implementation of the project, and then offering it for sale to strengthen customers’ confidence in the company. This approach has been followed in the Moraya project, where 40% of the concrete structure has already been completed.

Zein stated that Moraya is a 25-acre compound, boasting a prime location with direct views of the Green River and near the Diplomatic District and the Monorail station.

The project comprises 1,050 residential units with sizes ranging from 154 to 310 sqm. The units are delivered fully finished with air conditioning. Moraya is divided into four phases, either in terms of execution or sales. Additionally, the project includes a commercial and administrative mall with a group of prominent brands.

Furthermore, the company offers flexible payment plans, including a 10% down payment with a six-year installment plan, a 15% down payment with a seven-year installment plan, and a 20% down payment with an eight-year installment plan.

Zein further revealed the company’s expansion plan, which includes implementing a series of projects in NAC to be announced soon.