Egypt’s City Edge Developments posts $906.9mn sales in 12 months

Egypt’s City Edge Developments posted sales of 15 billion Egyptian pounds ($906.9 million) in favour of the country’s New Urban Communities Authority (NUCA) during the12-month period ended 31 July, chief executive told Mubasher.

Sales are divided between North Edge Towers in New Alamein City, Zahya towers in New Mansoura, and Al Maqsad in the New Administrative Capital cities, Amr El-Kady told reporters on the sidelines of a press conference on Tuesday.

City Edge is responsible for marketing projects in the New Administrative Capital, New Mansoura, and New Alamein cities.

The real estate developer is a joint venture between NUCA with a 60 percent stake, the Housing and Development Bank with 38 percent, and the Holding Co. for Investment and Development with 2 percent.