ICEC

“Amwag” Brings EGP 1.2bln Profits to Sabour

Al Ahly for real estate development – a company of Sabour group for investments- achieved 1.2 billion EGP from “Amwag North Coast” project that is established over 350 acres.

Ahmed Sabour – CEO- said that the Al Ahly for real estate development has exerted great effort, in order to finish the project at the previously declared time, and he noted that the economic situation witnessed in the state was too difficult for the company.

Sabour mentioned that the project exploits 350 acres, and presenting 2600 residential units, as he clarified that project comes in 4 phases, and the last one should be finished by the middle of 2015.

Sabour mentioned that the company will deliver 700 residential units within this year, and the 2nd phase will be delivered by the next year.

Sabour declared that the project’s investment cost reached about 1.8 billion EGP.

He added that the project succeeded in making these profits -although the economic circumstances witnessed in the state- because people trust in the company’s name, as he declared that the company operates – by full power- in its entire current project.

Sabour linked between stability in real estate market and restoring the political and security stability, as he mentioned that presidential election is supposed to finalize many issues.

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