ICEC

Egypt’s Tabarak Developments rolls out second phase of Capital East I

Egypt’s real estate, investment, and development firm Tabarak Holding announced on Thursday the launch of the second phase of its flagship Capital East I in Nasr City district, east of Cairo.

The second phase is with target sales estimated at around 180 million Egyptian pounds ($10.1 million), Tabarak’s general manager of sales Mahmoud Moukhtar told Amwal Al Ghad on Thursday.

Spanning over 20,000 square metres, Moukhtar said Capital East I will include 1,200 units with spaces ranging between 84 and 136 square metres.

“We will start delivering the project within 2021,” he added.

The company has executed about 50 percent of the second phase of its project 90 Avenue in New Cairo, he added. The first phase is set to be handed over by early 2019.

“We have marketed around 40 percent of the second phase of 90 Avenue,” said Moukhtar, adding that the first phase was completely promoted.

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