Edge nears EGP 2 billion in sales from Oia in Egypt new capital

Egypt’s Edge Holding for Urban Development says it is close to generate 2 billion Egyptian pounds ($123.8 million) in contractual sales from Oia Compound in the new capital at the end of this year.

Spanning over 30 feddans, the fully-fledged residential project will be delivered within 2020, the firm’s commercial sector manager Karim Mamoun told Amwal Al Ghad on Monday.

“The project includes 1,280 various housing units as well as a commercial centre on a space of 14,000 square metres,” Mamoun said.

Last December, the real estate developer obtained the ministerial approval on the four-phase project, he added.

Established in 2018, Edge Holding is a result of a huge joint venture between Al- Borouj Egypt and El-Mashareq in Saudi Arabia.

The company, founded to capture the huge investment opportunity in Egypt, has a huge vision for the real estate business in Egypt and with huge plans for the future.