XLand Developments kicks off its third residential project, Lake View, in Mokattam, with expected sales of EGP 500 mn Invest-Gate reports.

Lake View expands over 10,000 sqm, and it is scheduled to be delivered within three years.

Ali Gamil, Chairman of XLand Developments, says that the company has set a payment and installment system that suits a large segment of customers in terms of down payments that do not exceed 15%, with a total of EGP 200,000, and installments over six years, with an average of EGP 12,000 per month.

Lake View includes a social club, a gym, swimming pools, and cafes, and the units’ areas range between 63 sqm and 230 sqm, and the engineering consultant for the project is Eng. Muhammad Arafa, and the architectural consultant is Eng. Muhammad Ezzat.

In the framework of achieving the sustainability standards adopted by the state, a solar energy system has been introduced in the Lake View project, providing electricity by 30%.

Further, the company plans has a strong plan to face market fluctuations that led to high prices, by offering 70% of the projects for sale and retaining 30% to compensate for the price difference and maintain its profit margin.

Arafa notes that the company is studying new projects in East Cairo, such as New Cairo and the Administrative Capital, as well as in West Cairo, Sheikh Zayed, over the coming period.