First Group eyes EGP 800 mln contractual sales this year

Egypt’s property developer First Group says it targets contractual sales of 800 million Egyptian pounds ($44.9 million) from its two flagships Kenz Compound and Kazan Mall within this year.

First Groups’ chairman Bashir Mustafa said on Thursday his company had carried out and marketed 70 percent of Kenz Compound in Hadayek October area in Sixth of October City.

“We have launched Kezan Mall at a real estate exhibition,” Mustafa added. The commercial, administrative, and medical project is located in Sheikh Zayed City, at the outskirts of Cairo.

Also, the Egyptian official said First Group plans to launch a new project in North Coast resort at the end of the current year.