ICEC

Edge Holding starts Oia flagship in Egypt new capital

Egypt’s Edge Holding for Urban Development says it has started implementing its flagship Oia Compound in the country’s new capital, with investments of five billion Egyptian pounds ($279.4 million).

The newly-established real estate development firm had obtained the ministerial approval on the fully-fledged residential project, which is spanning over 30 feddans, said its sales manager Mohamed Samir on Saturday.

Oia will include 1,280 various housing units and a commercial centre on a space of 4,800 square metres, Samir told Amwal Al Ghad, adding that Edge Holding has marketed 70 percent of the project.

“We are planning to market the project at the end of this year,” he added.

Moreover, Edge Holding is planning to pump investments estimated at 25 billion pounds within ten-year timeframe to execute new real estate projects in the local real estate market, he said.

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