ICEC

HDB’s Housing and Real Estate Investment completes 70% of Eshraqa

Egypt’s Housing and Real Estate Investment Company (HDRIC), an affiliate of state-run Housing and Development Bank, has completed around 70 percent of flagship Eshraqa in Sixth of October City, an official said Sunday.

Moustafa Maher, head of market studies and assessment at HDRIC, told Amwal Al Ghad on Sunday that the residential compound is established over 32 feddans, including a built-up area of 24 percent.

“The project is to comprise 896 housing units, on various spaces ranging between 112 square metres and 219 square metres,” Maher further stated, adding that his company has so far handed over about 150 units.

HDRIC plans to conclude Eshraqa within the first half of 2018, the Egyptian official further said, referring: “The flagship is to be completely delivered within the next year.”

The firm also hopes to invest in the county’s new administrative capital project, as part of its expansion scheme in the city, giving the project’s investment and development feasibility, he added.

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