City Edge Developments launches Al Maqsad project in Egypt’s New Capital

City Edge Developments announced the launch of Al Maqsad project in the New Administrative Capital (NAC) with expected contractual sales  1 billion  Egyptian pounds from the first phase.

During a press conference, Amr El-Kady, the CEO of City Edge Developments, said that the project spans over 211 feddan in the R3 region at the NAC.

El-Kady noted that the project is on-plan and is being marketed on eight phases, explaining that the project would include various units including residential apartments, villas and town houses.

Moreover, he pointed out that the project comprises 952 units varying between townhouses on 413 sqm and 424 sqm, townhouses on 370 sqm and 400 sqm, as well as standalone villas on 336 sqm, with development rates reaching 70%.

El-Kady revealed that the company plans to hand over the project in the last quarter of 2019.

He elaborated that the company has achieved  8.5 billion Egyptian pounds sales in New Alamein by the end of 2018, and has achieved  500 million Egyptian pounds sales in the city in the first two months of the current year.

Moreover, the company achieved 600 billion pounds sales in New Mansoura in 2018, and  600 million pounds in the first two months of 2019, thus the contractual sales of the project since its inception have reached 2.1 billion pounds, according to El-Kady.