White Eagle Developments signed a partnership agreement with UAE’s Perfect Way for industrial construction with a value approaching EGP 5 bn, Invest-Gate reports.
The agreement comes in the context of White Eagle’s plan for expansion, maximization of assets in the Egyptian market, and launching new projects.
Chairman of White Eagle Developments, Ahmed Gebili, reveals that the company plans to expand and inject EGP 3 bn in investments in the Egyptian market during 2023.
He adds that the first project to be launched under the partnership with Perfect Way is Darvell with EGP 800 mn investments.
The company plans to launch another project with EGP 1.2 bn in investments, Gebili adds.
The top executive reveals that the company seeks to enlarge its land portfolio in New Cairo, NAC, Sheikh Zayed, 6th of October, and New Alamein with a total area of 100,000 square meters (sqm) in 2023.
For his end, the CEO of White Eagle Development, Ahmed Hendy, notes that Darvell is a commercial, medical, and administrative project located on 2,500 sqm and includes 175 units.
The project’s construction is set to start in early 2023 and be completed in 2025, Hendy unveils.
He adds that the project comprises 11 floors including a ground floor.