Tatweer Misr has recorded contractual sales of more than EGP 3.7 bn during the first half of 2021 which is considered the highest sales level that the company achieved during six months since its establishment, Invest-Gate reports.
Moreover, the company has an optimistic view, aiming to achieve total contractual sales of EGP 8 bn by the end of the current year.
In this context, Ahmed Shalaby, CEO of Tatweer Misr, states that this sales’ boom has come after launching the “D-BAY” project, in the El Dabaa area on the North Coast, for contracting last March. He adds that the company is the first developer to receive the ministerial decree for the project from the North Coast Development Authority following the New Urban Communities Authority (NUCA).
Moreover, Tatweer Misr has succeeded in delivering more than 400 housing units to its consumers in the IL Monte Galala and Fouka Bay projects, out of a total of 1200 units that are planned to be delivered by the end of 2021; 500 units in Fouka Bay and 700 units in IL Monte Galala.
Additionally, Shalaby clarifies that amongst the company’s achievements in H1 2021 is launching the first phase of the educational zone in the “Bloomfields” project in Mostakbal City in New Cairo. Besides, it signed three contracts with an investment value of EGP 3.2 bn, to establish a branch of the New Jersey University of Technology (NJIT), two King’s College English schools, and Narmer American College.
Furthermore, Shalaby points out that the total expected investments of the educational zone are about EGP 10 bn, explaining that the company has also signed a strategic partnership with the Commercial International Bank (CIB) and Colliers International, to prepare a feasibility study of the educational zone and to promote it among investors and investment funds in the fields of education and entrepreneurship business.