First Group for Real Estate Investment has announced plans to deliver the units of KENZ compound in 6th of October City by 2020, at an investment value of EGP 800 mn, Invest-Gate reports.
The company targets achieving sales of EGP 1.5 bn of residential activities at KENZ compound, First Group’s Chairman Bashir Mostafa says during a media tour on December 17.
Mostafa also added the company has managed to sell 75% of the project so far, adding that KENZ spans over 30 acres and comprises commercial and residential activities.
First Group has already delivered two phases of KENZ compound and is almost done with the third phase, he explained, pointing out that the implementation of the fourth and last phase of the project is underway.
On a different note, Mostafa said that the company has invested around EGP 300 mn in Kazan Plaza shopping mall and sold 50% of the mall’s units that generated sales of EGP 200 mn, revealing that the remaining 50% will be offered next year.