Egypt’s Al Bostany eyes 300mn pounds contractual sales at year-end

Egypt’s Al Bostany Real Estate Development targets contractual sales of 300 million Egyptian pounds ($16.7 million) from its flagships at the end of 2018, said its chairman Mohamed Al Bostany on Wednesday.

The targeted sales will be driven by the rise in real estate market activity, the company’s expansion scheme, and the implementation of new projects, Al Bostany further told Amwal Al Ghad.

“We are executing a new medical project on a space of 4,000 square metres in New Cairo,” he stated, adding that his company has marketed about 50 percent of this project.

Moreover, the Egyptian official referred that Al Bostany Co. seeks to carry out a bunch of housing units in Beit Al Watan New Cairo flagship that allows Egyptian expatriates to own lands in their homeland.

“The company hopes to start establishing 200 housing units as part of Beit Al Watan within this year,” Al Bostany concluded.