Cairo-based Nile Real Estate Company launches the first phase of Nile Park residential project in New Cairo, Invest-Gate reports.
Nile Park is part of the country’s Beit Al-Watan, a public project that allows Egyptian expatriates to own lands in their homeland.
Mohamed Taher, Nile’s Chief Executive, says that the 6,000-square-meter mini compound project is being implemented on three phases.
Taher adds that the first phase includes 24 units, at spaces ranging between 133 square meters and 178 square meters.
The prices of the units start at EGP 5,600 and EGP 7,200 (USD 311.6 – USD 400.6), with a 10% down payment and facilities of up to seven years, he says.
“We will complete the project at the end of 2020,” the Egyptian official further notes.
Taher confirms that Nile Co. is carrying out a number of different buildings at El-Lotus area in the Fifth Settlement and in the state Beit Al-Watan project.