NOAF to complete projects worth US$511m in three years

North Africa Company for Real Estate Investment (NOAF) will complete its projects in New Cairo and Tagamoa El Khames (Fifth Settlement) within three years, the company announced Wednesday.

The projects are established on the space of 93 feddans with total investments worth 4 billion Egyptian pounds (US$ 511 million).

The company said that among the projects is Katameya Gardens that encompasses 340 villas with various areas and designs. NOAF has completed 85 % of the project in addition to selling 75 % of the units worth EGP 700 million.

NOAF is also executing Nest Cairo project which is consists of 45 residential buildings including 900 housing units, of which 23 buildings are owned by the New Urban Communities Authority (NUCA), with total investments worth 600 Egyptian pounds million.

The company is aiming at promoting and selling the project during the upcoming period.

NOAF is currently studying an offer worth US$ 50 million submitted to buy the international hospital, the company’s third project.

On the other hand, NOAF is negotiating on a number of projects in the Gulf as it is intend to open a new branch in UAE on September to promote its projects, expand its investments and open new markets.

North Africa Co for Real Estate Investment SAE is an Egypt-based company engaged in the real estate investment sector. The Company focuses on the contract and investment in different real estate projects inside and outside Cairo; import and export trade; commercial agency activities; land reclamation, and real estate marketing.