Concept Real Estate eyes 80 mln pounds contractual sales from Siela North Coast

Egypt’s Concept Real Estate Group targets contractual sales worth 80 million Egyptian pounds ($40.5 million) from its flagship Siela in North Coast within 2018, said chairman Ehab Abou El Magd on Sunday.

“The company plans to launch the third phase of the project within next June,” Abou El Magd further stated, adding that Siela is executed over 10 feddans.

The Egyptian official referred that Siela will include 650 chalets on spaces ranging between 50 square metres and 120 square metres as well as a bunch of services facilities, which are being developed in 3 phases.

“Siela’s built-up area is 28 percent,” Abou El Magd said, elaborating that his company also seeks to launch the second phase within the second half of 2018.