Wadi Degla says target sales grew 115% at CityScape Egypt

Egypt-based Wadi Degla Real Estate Development recorded 115 percent jump in target sales during its participation in Cityscape Egypt Exhibition this year, CEO Maged Helmy announced Wednesday.

Helmy said the company had launched six real estate projects during Cityscape Egypt: Neo Polis in New Cairo district, Murano, Blumar El Sokhna, and Blumar Hills in Ain El-Sokhna, Blumar Hurghada, and Tijan Maadi in Maadi district, south of Cairo.

He further said Murano and Neo Polis enjoyed greater interest from clients during the exhibition, thanks to their unique location, prices, and innovative designs. New Polis is built on an area of 2.5 million metres, Helmy noted, referring that it is with total investments of 13 billion Egyptian pounds (US$1.6 billion) encompassing four phases.

At value of 2.8 billion, the first phase of Neo Polis project will be self-financed in addition to Wadi Delga Holding and banking loans, Helmy said.