The leading real estate company, IL Cazar Developments, has launched its latest residential venture, The Crest, Invest-Gate reports.
Spanning an expansive area of 158 acres with total investments of EGP 30 bn, The Crest marks the first milestone of the collaboration between IL Cazar Developments and Emirati UDC Real Estate Development, a subsidiary of the Mohammad Omar bin Haider Group (MOBH Holding).
The partnership agreement was signed in December 2023 by Mr. Nader Khozam, Chairman and CEO of IL Cazar Developments, Mr. Fady Nassif, Vice Chairman and Board Member, and Mr. Mohammed Zahid Al-Baterni, CEO of UDC Real Estate Development.
Due to its unique strategic location at the intersection of South 90th Street and E-Ring Road, The Crest is poised to become a landmark project in East Cairo.
The meticulous planning of the project, divided into three distinct phases, offers a diverse range of residential units, including Signature Villas, Standalone Villas, Townhouses, Quadro, Duplexes, and Apartments, as well as a specialized commercial district.
The Crest is projected to generate target sales of EGP 60 bn, solidifying IL Cazar Developments’ position as one of the top-notch companies in the Egyptian real estate market. The construction work is expected to be completed within three and a half years, with deliveries commencing in 2027.
IL Cazar Developments’ leadership expressed their enthusiasm for this significant milestone, the launch of The Crest, which is seen as a tribute to the company’s commitment to excellence and innovation.
With its prime location, visionary design, masterplans, and world-class services, The Crest aims to redefine the standards of modern living in New Cairo. IL Cazar Developments strives to provide an outstanding experience for its clients in every aspect of the project by collaborating with the most professional entities in its development.
The partnership with UDC Real Estate Development, one of the most reputable real estate companies in the UAE known for its successful international projects, marks the beginning of this endeavor.