Egypt’s Oscar Misr Real Estate has launched its mini compound flagship Oscar Planet in New Cairo, with investments of 45 million Egyptian pounds ($2.5 million), said chairman Mohamed Behery on Sunday.
New Cairo city is located on the southeastern edge of Cairo, 25km (15.5 miles) from Maadi. It was established in 2000 by presidential decree No. 191.
“The company plans to develop a land plot in the city as part of the country’s Beit Al-Watan project,” Behery stated, adding that this project allows Egyptian expatriates to own lands in their homeland.
As for Oscar Planet, the official further referred that it will be established on a space of 1,5000 square metres and will include 40 units, varying between apartments, villas, and duplexes.
“The construction works are to be started within the next year,” Behery said, elaborating that Oscar Planet is being developed within a timeframe of two years.
Moreover, Behery clarified that Oscar Misr is developing two new standalone buildings over 864 square metres in El Shorouk city, with investments estimated at 17 million pounds.