Grand Plaza completes 55% of La Mirada’s phase I in New Cairo

Egypt’s real estate investment company, Grand Plaza says it has completed 55 percent of the concrete works of the first phase of its residential flagship – La Mirada Compound – in Mostakbal City in New Cairo.

The concrete works, which are with total investments worth 5.5 billion Egyptian pounds ($338.3 million), will be finalised by mid-2020, the firm’s chief executive Sherif Osman announced on Thursday.

Grand Plaza has so far invested between 160 million pounds and 200 million pounds in the concrete works during the current year, Osman said.

“Spanning over 77 feddans, we have posted total sales of 800 million pounds from La Mirada at the end of the last year,” he said, adding that these sales are planned to record 3.8 billion pounds from the project’s housing part.