New City Developments launches a new residential project Eco West in the 6th of October City, targeting middle and low income earners, Invest-Gate reports.
The new project is designed specifically to cater to the needs of the young people and match their desired lifestyle. It boasts European-style-inspired residential units of various sizes.
Incorporating plenty of green area into the new residential condo is a big focus for New City Developments, according to the company’s release on March 2, green spaces will constitute 60% of the total project area, which covers 120,000 feddans.
The company also says that construction will likely start during the second half of 2021, and that apartments will be move-in ready by 2025.
“The Eco West project marks the beginning of a new era for the local real estate scene,” says Manal Hussein, chairman of New City Developments. She also points out that the company’s capital rose to EGP 365 mn over the past period.
For his part, Ramy Youssef, CEO of New City Developments, said that Eco West project is aimed to plug the existing gap in the real estate market, characterized by high demand and ever-mounting prices.
The company says in its release that it will offer lucrative payment schemes for its prospective home buyers from aforementioned segments.
Youssef also mentions that the company eyes African market expansion.