Leading Egyptian developer Upwyde launched its first housing scheme, White Residence, in New Cairo, aiming for sales surpassing EGP 4 bn, Invest-Gate reports.

Chairman Mohi Farrag outlined five commercial, office and medical projects underway as the company diversifies. White Residence spans 11 feddans and 480 units including studios to 300-sqm lofts, with offices, retail and amenities.

Some 50% was pre-sold, Farrag credited to Upwyde’s reputation and flexibility including 5% down payments and 8-year installments.

Deputy CEO Mohamed Abdel Hamid highlighted the project’s proximity to landmarks like the German University and Life Sports Club boosting appeal.

Upwyde contracted Engineering Consultant Mohamed Talaat to design simple yet sophisticated and futuristic plans for the project, Abdel Hamid added.

Future expansion was announced in Sheikh Zayed City with a residential, commercial and office scheme plus 2024 launches.

Upwyde aims to set benchmarks in unique integrated locations through distinctive designs and flexible payment options.