Oscar Misr aims to achieve contractual sales during the current year of about EGP 300m, compared to EGP 136m at the end of last year, driven by the real estate market movement, launching a new project, and adding new activity to by company during the first half of the year, Mohamed Beheiry, chairperson, said.
Beheiry told Daily News Egypt that the company plans to launch a project in New Cairo by the end of the current month with targeted sales of about EGP 40m.
Beheiry added that the mini compound, named Oscar Planet, will be on an area of 1,550 sqm, and includes about 40 units with various areas ranging from 118 sqm to 350 sqm, and will be designed to provide clients with safety and privacy.
Beheiry added that the company will market the project within five months, noting that the company will offer easy payment systems according to purchasing capacity available to customers, and a repayment period of up to about 84 months. It will be implemented in a year and a half.
“The company aims to expand the activity of real estate marketing for the benefit of others during the current year, by providing units to customers wishing to obtain a home in New Cairo, through contracting with some real estate companies in the city, which is not inconsistent with the main activity of the company, which is real estate investment. The company is in the negotiation phase with some real estate companies,” Beheriy noted. “The company aims to work in New Cairo and to establish its presence before launching new projects in other cities, especially with the increasing demand of customers and developers to invest in eastern Cairo, driven by the completion of development and the availability of all services, in addition to the launch of the New Administrative Capital project.”