Al Shams Housing eyes business volune of EGP1.5bln in 2019

Egypt-based Al Shams Housing and Urbanization (ELSH) is targeting  business volume of 1.5 billion Egyptian pounds during 2019 in the frame of its plan to expand in the real estate market, its chief executive Mahmoud Maghawry said.

He said that the company aims to acquire new lands and awaits the announcement of land auctions in New Mansoura, targeting an area not less than 30 feddans.

In addition, he referred to the company’s imminent  offering of a tender for the construction of a new residential project in the New Dministrative Capital during the coming months at a construction cost of 2 billion pounds.

He further noted that his company is in the process of  developing 30,000 metre square in the North expansions area, sixth of October city that would be used for commercial service activity. The project will be developed among other companies that own various areas in the same zone.