Ceramica Cleopatra finishes Cleopatra El-Shorouk with EGP 1.4 bn investments by mid of 2014

Big 5

By Maha Essam and Sara Aly

 

Ceramica Cleopatra Co. plans to finish “Cleopatra El-Shorouk” by mid2014 with EGP 1.4 billion investments, on 47 feddans area. Yasser El-Naggar, director of real estate sector in Cleopatra, said that the company is still executing ‘Cleopatra El-shorouk” despite the current recession that real estate has been suffering since last year.

 El-Naggar assured that Ceramica Cleopatra does not rely on banking financing, but instead it relies on self-financing. The Project consists of 16 housing buildings, with areas range from 185 to 250 m2 per unit. In addition, Minaville Group’s areas range 250 to 580 m2, whose areas starts from EGP 3000 per meter, where 10% is paid as deposit and the rest payment in 2 years without interest rates.

The buildings’ rate is 18% of the total area of the project, while the rest is allocated for green areas and a commercial center on 10 thousand m2 area.

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