Maadi Development targets EGP 1bn contractual sales at year-end

Egypt’s Maadi for Development and Reconstruction says it targets contractual sales up to nearly one billion Egyptian pounds ($55.8 million) from its ongoing projects at the end of the year.

These projects are located in the east of Cairo and Maadi areas, the state-owned company’s chairman and chief executive Mohamed AbdElKereem told Amwal Al Ghad on Wednesday.

AbdElKereem added that the country’s real estate and marketing firm Real Mark was mandated to promoting around 98 percent of the first phase of Maadi View, owned by Maadi Development Co.

Maadi View is set to encompass a bunch of small villas and 3,000 housing units, with spaces ranging between 100 square metres and 200 square metres.

Maadi Development and Real Estate are both affiliate to Holding Company for Construction and Development (HCCD).