Egypt’s Maadi Company for Development and Construction is targeting revenues worth 5.5 billion Egyptian pounds ($304.5 million) from Maadi View project in El Shorouk City, chairman Fahd Derbala said Tuesday.
The project is one of the company’s biggest residential projects in the current period, Derbala told Amwal Al Ghad.
“We will officially start the construction works on Maadi View El Shorouk within the next two months,” Derbala noted.
The Egyptian official further added that Maadi View is being built on a space of 136 feddans.
Maadi participated in this year’s Cityscape Egypt Exhibition, Egypt’s biggest real estate event, for the first time, where it promoted the project’s first phase, he added.
“We plan to expand our business into more real estate projects in the country,” he said.
Maadi View includes nearly 3,000 housing units, alongside green spaces as well as entertainment, service, and sport areas, Derbala stated, adding that the project’s investment cost reaches three billion pounds.
“Our business focuses on other construction firms affiliated to Egypt’s Holding company for Construction and Development (HCCD) in order to implement all phases of the projects,’ Derbala concluded.