Future Homes Development partners with the Nasr Housing and Development Company to implement a residential compound project in South Cairo in an area of ​​9,000 sqm, with an expected investment cost of EGP 250 mn, Invest-Gate reports.

Mohamed Mounir, Chairman of Future Homes, clarifies that the project is a residential compound consists of 15 buildings, encompassing 300 housing units with different areas ranging from 90 to 175 sqm, according to a company press release on February 7.

Mounir further adds that a timetable has been set to complete the project within four years and the company expects estimated sales of EGP 350 mn, through payment facilities starting from 10% down payment and installments up to seven years.

Moreover, the Chairman of Future Homes Real Estate elaborates that the partnership between the public and private sectors in the real estate sector achieves the public interest, mutual benefit, by developing part of the huge land portfolio owned by the public sector.

On his part, Hisham Abu Al-Ata, Chairman of the Holding Company for Construction and Building, affirms that the state’s strategy to create effective partnerships between the public and private sectors aims to achieve more developmental sustainability, especially in the sectors of construction, infrastructure, and services

Furthermore, Mohammed Abdul-Maqsoud, Chairman of the Nasr Housing and Development Company, says that the company aims to develop the largest area of ​​its land portfolio by diversifying the investment channels between self-investment and partnerships with the private sector. He further says, “We aim to raise the company’s sales by a value that exceeds three times the sales of the last fiscal year, by EGP2.5 bn compared to EGP 700 mn achieved in the past fiscal year.”