The total investment of Beta Egypt for Urban Development in the Egyptian market has increased to EGP 6bn, up by 400%, according to Alaa Fikry, chairperson of the company and member of the Real Estate Investment Division of the Federation of Egyptian Chambers of Commerce (FEDCOC).
Fikry explained that since the company started in Egypt in 2006, it has aimed to achieve significant growth rates, revealing that the company’s total investment portfolio of land amounted to 500,000 sqm worth over EGP 2bn.
He pointed out that the company has developed and delivered about 400,000 sqm until now and is working on delivering the third phase of the Beta Greens – 6th of October City and is expected to be delivered in 2018.
Moreover, he added that the company has completed and delivered five projects in east and west Cairo, including the Beta Greens on 20 feddans with investments of EGP 1bn, noting that the company is building three shopping malls in 6th of October City with an investment cost of EGP 150m.
As for Beta Greens Future City (New Cairo), Fikry said that the company is awaiting the ministerial decision to begin implementing the project, describing it as the company’s largest project, with investments of EGP 5bn.
This project lies on 356,000 sqm (84.7 feddans). It will offer 3,000 residential units over four phases, next to districts for townhouse villas and twins to serve all segments of society.