Maalem targets EGP 150 mln contractual sales this year

Egypt’s Maalem Group for Reconstruction and Development says it targets contractual sales worth 150 million Egyptian pounds ($8.4 million) from marketing 11 real estate flagships this year.

These projects will include about 120 various housing units, with spaces ranging between 150 square metres and 350 square metres, the company’s chairman Abdallah Anwar said on Tuesday.

“The company’s investments focus on Andalus area and Beit Al Watan project in New Cairo,” Anwar said. Beit Al Watan project allows Egyptian expatriates to own lands in their homeland.

Also, Maalem plans to pump investments of 18 million pounds into its project within the current year, Anwar added.

“The 11 real estate flagships are to be delivered within 30 months,” Anwar said.

Established in 2007, Maalem Group operates in integrated construction industry filed and joined the membership of Egyptian Federation for Construction and Building Contractors (EFCBC) to begin the process of work to participate in nation-building and support integrated development.