Al Ahly to deliver L’Avenir New Cairo project in 2021
Egyptian Al Ahly for Real Estate Development is planning to start delivering its flagship L’Avenir in Mostakbal City, New Cairo within 2021, managing director Ahmed Sabbour said on Saturday.
The project is with investments of 1.8 billion Egyptian pounds ($100.6 million) and target revenues of 3.2 billion Egyptian pounds ($178.8 million), Sabbour further told Amwal Al Ghad.
Al Ahly had executed 25 percent of L’Avenir spanning over 100 feddans, he said. The company is seeking to increase the accomplishment rates to 50 percent at the end of the current year.
“We have so far marketed 90 percent of the project,” Sabbour added.
Moreover, the Cairo-based company is currently preparing the designs of its new fully-fledged residential project in Sixth of October City over 144 feddans, Sabbour said.
“The new project will include a number of villas and town houses,” he said, adding that the project will be launched within 2019 and implemented before the end of next year.