CMD Developments aims to achieve EGP 400 mn of contract sales in its project, YARU Compound, during Q4 2021, Invest- Gate reports.
YARU Compound is the company’s first project in the New Administrative Capital (NAC), with investments worth EGP 2 bn.
Ahmed El Wardany, co-founder, vice-chairman and managing director of CMD, reveals that YARU Compound is located in R8 on an area of 37 acres. The project consists of 1,577 units, varying between residential, hospitality, and commercial. The project is expected to achieve sales of up to EGP 1 bn.
Additionally, he points out that CMD Developments owns a large land portfolio in distinct locations in the NAC, through which the company aims to implement a series of diversified projects.
He further adds that the company aims to implement huge merger and acquisition deals in the real estate market, noting that the company plans to diversify its portfolio of projects to include residential, administrative, educational, commercial, medical and hotel real estate products in NAC and coastal cities.
It is worth mentioning that CMD Developments has six subsidiaries in different fields of the real estate market, including development, marketing, infrastructure, contracting and other activities.