Wadi Degla Developments has commenced work on new luxury residential compound, Promenade Maadi, in a prime uphill location in Zahraa El Maadi in front of Wadi Degla SC.
Maged Helmy, chairperson and CEO of Wadi Degla Holding, said in press statement that Promenade Maadi, to be built on an area of 34,000 sqm, will have 300 units in 35 buildings, including duplex apartments and penthouses with various spaces.
Helmy added that Promenade Maadi residents will enjoy access to an exclusive array of fitness and leisure facilities, including green spaces, gardens, running tracks, and parking garages.
Wadi Degla has hired two firms to carry out drilling and demolition work, concrete structures, and insulation work of the residential compound at a total cost of EGP 150m, Helmy revealed.
Around 20% of drilling work has been completed and is expected to be finished within six and a half months. Concrete structures, construction, and insulation work, meanwhile, is scheduled to take no more than two years, Helmy noted.
“The company is planning to carry out the project at a swift pace while maintaining high standards to ensure all units are delivered on schedule and that it is keeping in-line with the highly competitive real estate market,” he added.
Helmy further explained that Wadi Degla is looking to scale up its projects soon as part of the company’s efforts to remain at the forefront of property developers in Egypt and help bolster the country’s economy by making greater direct investments and offering more job opportunities.