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Beta Egypt invests EGP 400m in Beta Greens New Cairo until 2020 - Daily News Egypt

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Beta Egypt invests EGP 400m in Beta Greens New Cairo until 2020

Company is considering a non-residential project to be announced soon, says chairperson

Beta Egypt for Urban Development is planning to invest EP 400m in Beta Greens New Cairo project in Mostakbal City, New Cairo until 2020.

Alaa Fikry, chairperson of Beta Egypt said that the company will invest EGP100m in Beta Greens’ construction works by the end of 2019.

“Currently, we are selecting contracting companies to be awarded with the implementation of the project,” Fikry added.

He pointed that while selecting the contracting companies, the company will focus on the history, proficiency, technical classification, and financial solvency of the contender companies. Beta Egypt is making sure to implement a high-quality project that matches Beta Egypt’s projects and its history in the Egyptian market.

Fikry noted that Beta Egypt has invited contracting companies wishing to be awarded the project and many enormous companies have already proposed. Once bidding comes to a close, the company will review all offers and a select the awarded companies in the coming period.

The chairman of the company confirmed that Beta Egypt is planning to complete the implementation of Beta Greens New Cairo by the end of 2022.

Beta Greens New Cairo embraces 730 housing units with total investments of EGP1.7bn and the project sales are estimated to exceed EGP 2bn, Fikry revealed.

According to Fikry, the project has reached the targets for this current phase, no new phase is needed until 2020.

Beta Greens New Cairo is constructed on 25 feddan in Mostakbal City, New Cairo. The company has fully paid the land’s price and cash is available for the project’s completion as soon as possible

Beta Egypt is considering a non-residential project to be announced soon,” Fikry stated.

Beta Egypt for Urban Development is one of the growing real estate developers in the Egyptian market. It has implemented various integrated real estate projects in the cities of new urban communities and Greater Cairo, including Obour and October cities where the company has implemented projects including Beta Gardens, Golf Residence, and Beta Greens.

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