City Edge Developments is implementing three projects in 2019 which will drive its expected sales to EGP 10bn by the end of the year, Amr El-Kady, the company’s CEO, said.
“We will continue the success which we made last year. We are investing in Al-Maksad in the New Administrative Capital (NAC), and we will hand over its units before the end of 2019,” he told reporters following his participation in the fifth real estate summit on Monday, adding that the company will continue its projects in New Alamein City, in addition to Sheikh Zayed City.
Al Maksad project comprises 952 units varying between townhouses on 413 sqm and 424 sqm, townhouses on 370 sqm and 400 sqm, as well as standalone villas on 336 sqm, with the development rates reaching 70%, according to a past report of Daily News Egypt.
The size of the investments for the company’s projects in 2019 is very huge as it is collaborating with the New Urban Communities Authority (NUCA) in implementing some projects, El-Kady further noted.
Notably, in May 2017, City Edge Developments and the NUCA signed a protocol to undertake the construction; development; management; design; branding; marketing; sales, as well as maintenance and after sales services for seven projects in New Alamein, the NAC, and New Mansoura.