Egypt’s Tameer has started carrying out its fully-fledged residential flagship Dyar in Sixth of October City, 38km (23.6 miles) from the centre of Cairo, managing director Antoine El Khoury said Wednesday.
Established in 1954, Tameer was launched as a state-run property developer firm to implemented all works related to design, planning, research, and urban projects, with the aim of developing national flagships to serve the community.
The project is with total investments of about one billion Egyptian pounds ($56.6 million) and target returns of 1.5 billion pounds, El Khoury told Amwal Al Ghad.
“The project is being executed on a space of 43 faddans,” he stated, adding that Dyar will include around 830 housing units, varying between apartments and a commercial centre over 15,000 square metres.
The official referred that Tameer has so far achieved contractual sales estimated at about 250 million pounds from project.