Egypt’s Al Ahly Real Estate’s land portfolio at 5mn sqm – official

Egyptian Al Ahly for Real Estate Development’s land portfolio totalled 5 million square metres in various areas, its managing director Ahmed Sabbour said on Sunday.

The land plots will be developed at a cost worth around 70 billion Egyptian pounds ($4.3 billion), Sabbour added at a conference for urban development.

The company has developed 15 million square metres out of the 5 million square metres in the real estate market, he said.

“We are planning to launch our new project in Sixth of October City within the next year, in partnership with the country’s New Urban Communities Authority (NUCA),” Sabbour said.