Al Ahly Real Estate to carry out Aria New Cairo project in H2
Egypt’s Al Ahly for Real Estate Development plans to start executing its flagship Aria compound in Mostakbal City in New Cairo within the second half of 2018, said chief operating officer Amr Sultan on Tuesday.
The project is with total initial investments estimated at four billion Egyptian pounds ($226.4 million), Sultan further told Amwal Al Ghad.
“The project will be carried out on a space of 108 feddans and it will include 175 various villas and 1,500 apartments,” the Egyptian official added.
Al Ahly has marketed around 50 percent out of Aria’s total units, Sultan stated, referring that this project is set to be delivered within 2021.
Established in 2000 by presidential decree No. 191, New Cairo city is located on the southeastern edge of Cairo Governorate, 25km (15.5 miles) from Maadi.