Al Waad to Deliver “Mena Sedre” P1 by 2014, EGP 120 mln costs

Al Waad Company for Construction & Real Estate Investments will start, in 2014, to deliver the units of “Mena Sedre” in Ras Sedre. The project is with EGP 120 million costs and on an area of 50 acres.

Haithm Magdy, the company’s sales official, said the project consists of 3 phases; the first phase is being implemented. He referred that the political and security incidents resulted in raising the prices of building materials. He added that purchasing power has been negatively affected during this period, consequently the construction work frozen.

He added that the project is on 3 phases with 250 units, on different areas between 50- 130 meters, 20% of the project is buildings and the rest are green spaces and roads.

Magdy elaborated that the company facilitates the payment process, represented in paying 15% at first and the rest will be paid on three years.

He expected reactivating the marketing for the real estate sector after the long recession period of 2011. Electing Egypt’s president will eradicate the case-see that the customers suffer, Magdy added.