Living Yards to execute Egypt’s new capital housing compound next year

Egypt’ Living Yards Developments it is planning to start carrying out its flagship The Loft Compound in the country’s new administrative capital next year, said an official in the firm on Tuesday.

The project is with total investments of one billion Egyptian pounds ($55.8 million) and target revenues of 2.5 billion pounds, the property developer’s chief commercial officer Hashem El Kadi told Amwal Al Ghad.

“We marketed the first phase of the project, which is spanning over 23 feddans in four phase, with total sales worth 600 million pounds,” El Kadi said.

The Loft, the firm’s first project in the Egyptian real estate market, will include 920 housing units with spaces varying between 78 and 370 square metres, he added.

Moreover, Living Yards is currently negotiating to get a land plot to implement another residential project in the new capital on spaces ranging between 40 and 50 feddans, El Kadi said.

“We are looking to get a new land plot in North Coast to execute a residential and touristic project there,” he said.