Wadi Degla eyes contractual sales of $675mn in 2016

Egypt’s property developer, Wadi Degla Holding aims to record contractual sales of 6 billion Egyptian pounds (US$ 675.4 million) in 2016, its chairman Maged Helmy said Tuesday.

Wadi Degla is working on launching two new projects during the current year , notably a project in the Fifth Settelment (Tagamou El Khames)  which  would stretch over 139.000 m2 tailored to establish  995 residential units and another project in Ain Sukhna that would include 1500 residential units.

Moreover, the company is close to obtain a ministerial decree related to establish Neopolis-El Mostakbal City with total investments of 13 billion pounds and expected revenues of 20 billion pounds.  The project is situated on 2.5 million m2 and includes 14,000 units to be developed over four phases in 4 years.