Egypt’s property developer Egygab Holding Company targets launching Grand II project in El Shorouk City within the first quarter of 2018, said chief executive Mohamed Gaballah on Sunday.
Grand II is with expected revenues of 1.3 billion Egyptian pounds ($73.2 million) and initial investments of around 800 million pounds, Gaballah further told Amwal Al Ghad.
“The flagship is established over 25 feddans, at a value worth 176 million pounds,” the Egyptian official said, referring that it will include 50 town houses and 450 housing units, on spaces ranging between 140 square metres and 220 square metres.
“The project is to be implemented in four phases at the beginning of next year and to be delivered within four years,” he noted.
Gaballah added the first phase is set to encompass 140 units, which are expected to be marketed within 2018.