Egypt’s Benaa for Construction and Building says it has promoted around 85 percent of its flagship Gardenia Compound in Obour City, with contractual sales of 170 million Egyptian pounds ($9.5 million).
The real estate investment company targets sales estimated at 300 million pounds from Gardenia, its marketing manager Mohamed Fadel told Amwal Al Ghad on Tuesday.
Gardenia is established over 29,000 square metres, Fadel stated, adding that the 13-building project will include housing units on spaces ranging between 152 square metres and 203 square meters as well as a commercial centre.
“The company expects to complete marketing the flagship within next year,” the Egyptian official further noted.
Benaa has implemented about 70 percent of the first and second phases, he said, referring: “the project is set to be completely carried out within two years.”
Besides Gardenia, Fadel elaborated that Benaa also plans to execute a new project in Sixth of October City over 20 faddans, with total investments worth 300 million pounds.
“The company hopes to launch the new project within the upcoming year,” he concluded.