Living Yards markets The Loft’s phase I in Egypt new capital

Egypt’ Living Yards Developments has marketed the first phase of its real estate flagship The Loft Compound in the country’s new administrative capital, said an official in the firm on Sunday.

The first phase is with contractual sales of 600 million Egyptian pounds ($33.5 million), the real estate developer’s chief commercial officer Hashem El Kadi told Amwal Al Ghad.

“We will start marketing the second phase of The Loft, which is our first project in the Egyptian real estate market on a space of 23 feddans, by early 2019,” El Kadi said.

The Loft will include around 920 units varying between 78 square metres and 370 square metres, with investments worth one billion pounds, he added

“We are planning to execute the project next year,” he said

Moreover, the company is currently negotiating to get a new land plot on a space of 50 feddans in the new capital, El Kadi said.