Egypt’s El Shams Housing eyes $14 mln contractual sales from Gardenia

Egypt’s El Shams for Housing and Development says it is targeting contractual sales of 250 million Egyptian pounds ($14 million) from marketing 200 housing units in Gardenia Compound within the next period.

The state-owned firm had earlier achieved sales worth around 1.7 billion pounds from the units of its residential flagship Gardenia in Sixth of October City, said its chairman Mahmoud Maghawry on Wednesday.

“We had sold a number of land plots in Sixth of October City, where we are currently studying developing a new residential project in partnership with one of the real estate developers,” Maghawry further said.

El Shams is also looking to increase its real estate portfolio, through establishing a bunch of projects in Mansoura City, Dakahlia governorate within the next year, he added.