Egypt’s property developer Wadi Degla promotes 4,000 residential units in “Neopolis”

Egypt’s property developer, Wadi Degla Holding has promoted 4,000 residential units in “Neopolis” located in Mostakbal city, said Amr Al Kady, deputy CEO of Wadi Degla on Wednesday.

The project is a residential compound stretched over an area of 454 feddans, it includes 14,000 units to be developed over four phases over four years with investments worth 14 billion Egyptian pounds (US$1.5 million).

Neopolis is the first mixed-use in El Mostakbal City offering an array of residential options that cater to every preference; apartments and duplexes, all situated in the middle of lush greenery.

Al Kady expected that the residential units’ prices will surge by 15 present by the end of 2016 compared to a year earlier as the result of the increase in building materials, the dollar shortage crisis  and the increase of prices to obtain construction licences.