Egypt’s property developer Al Ahly planning 4 bln pounds in 2017 contractual sales

Egypt’s Al Ahly for Real Estate Development Company says it is targeting contractual sales of four billion Egyptian pounds ($220.3 million) in its different projects within 2017.

Earlier, the contractual sales stood at three billion pounds at the end of 2016.

Hussein Sabbour, Al Ahly’s chairman, told Amwal Al Ghad Tuesday that his company owns a various land portfolio which includes the locations of the projects and the spaces of the units.

Moreover, Sabbour further added that Al Ahly has started implementing Green Square as a part of Mostakbal City project, located in New Cairo.

“We target beginning works in La’venir Mostakbal City project by early April 2018,” Sabbour noted.

The total housing units of the two projects reach 5,000 including small villas and apartments, he said.