Edge Holding’s sales from Oia Egypt new capital project at $102.8mn

Egypt’s Edge Holding for Urban Development says it has posted contractual sales totalling 1.7 billion Egyptian pounds ($102.8 million) from Oia Compound in the country’s new administrative capital.

The real estate developer targets new sales up to 2 billion pounds at the end of this year from its fully-fledged residential project that spans over 30 feddans, its commercial sector manager Karim Mahmoud said on Wednesday.

The company had earlier carried out 20 percent of the project, which includes 1,280 various housing units and one commercial centre on a space of 14,000 square metres, he added.

Last December, Edge Holding obtained the ministerial approval on the four-phase project, Mahmoud earlier 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 company, 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.