Maadi for Development eyes 7bn Egyptian pounds investment returns from Maadi View

Egypt’s Maadi Company for Development and Reconstruction says it targets investment returns worth around seven billion Egyptian pounds ($392.6 million) from its flagship Maadi View within three years.

Mohamed Raafat, Maadi Co.’s Managing Director for Engineering and Construction Affairs, said Tuesday that his company, an affiliate of HCCD, also plans to pump investments ranging between 800 million pounds and 1 billion pounds into Maadi View until next 30 June.

The project is spanning over 136 feddans in Shorouk City, Raafat stated, adding that it will include around 3,000 various housing units and a central park on a space of 30 faddans, with investments of 3-5 billion pounds.

“The flagship is being carried out in four phases,” he further told Amwal Al Ghad.

On the sidelines of signing a leasing agreement with El-Taamir Mortgage Finance Company (Al-Oula), Raafat referred that Maadi Co. is negotiating with HCCD to provide number of land plots for its affiliates, as part of the county’s new administrative capital project.