Edge Holding to execute Oia Compound in Egypt’s new capital
Egypt’s real estate developer Edge Holding for Urban Development says it plans to start carrying out its residential flagship, Oia Compound in the country’s new capital within 2019.
The fully-fledged project will be developed over 30 feddans in four phases, with investments of 5 billion Egyptian pounds ($279.2 million), Edge’s vice chairman for commercial Nader Badr told Amwal Al Ghad on Tuesday.
Oia is set to include 1,280 housing units and a commercial mall on a space of 14,000 square metres, Badr said, adding that the company obtained the ministerial approval on the project during December 2018.
“We will pump investments estimated at 300 million pounds into the project within the current year,” he said.
Established in 2018, Edge Holding is a result of a huge mutual fund between Al- Borouj Egypt and El-Mashareq in Saudi Arabia. The firm, founded to capture the huge investment opportunity in Egypt, has a huge vision for the real-estate business in Egypt and with huge plans for the future.