Property developer El Asreya eyes EGP 4bn contractual sales in 2Yrs

Egypt’s El Asreya for Real Estate Development targets contractual sales worth 4 billion Egyptian pounds ($223.6 million) within two years, a senior official in the firm said on Sunday.

The target sales will be driven by launching three projects within coming period, its marketing director Sherif El-Domyati further told Amwal Al Ghad.

“The first project, which is located at the seventh residential district in the new capital on a space of 45 feddans, will be developed in favour of the Egyptian Judges’ Club,” El-Domyati said.

As for the second project, it is located in Ain Sokhna on a space of 23 feddans, he said, adding that Aqua Plans Company to execute the project’s designs.

“The third administrative and commercial project is located in Fifth Settlement district, New Cairo on a space of 1,000 square metres,” he said. It is set to be launched by mid-2019.