Egypt’s real estate developer Memaar Al-Ashraaf enters into a contract with Etqan Business Development to launch its latest mixed-use commercial project in Q4 2022 in New Cairo’s Lotus area with investments of EGP 300 mn, Invest-Gate reports.

Ahmed Amin Massoud, CEO of Memaar Al Ashraaf, reveals that the project is situated on 3,500 sqm, and is expected to achieve sales of EGP 500 mn.

Bassem El-Sherbiny, CEO of Etqan Business Development, states that Etqan prepared financial studies and the marketing strategy for the project, in addition to a detailed tender plan.

El-Sherbiny notes that Etqan offered services to over 50 companies in 10 countries, and contributed to the launch of more than 40 new projects with a sales value worth more than EGP 50 bn in NAC.