Remco posts $60.4mn contractual sales from Egypt’s new capital housing compound

Remco Tourism Villages Construction reported on Tuesday contractual sales of 1 billion Egyptian pounds ($60.4 million) from its housing project – Stella Park – in Egypt’s new administrative capital.

“We have mandated Stella Park’s construction works worth 2 billion pounds to Egyptian Ayoubco Contracting,” Remco’s vice chairman and investor relations manager Onsi Youssef told Amwal Al Ghad.

Remco targets accomplishment rates up to round 30 percent for the three phases of the residential project, Youssef said.

“It’s planned to complete delivering the project, which is spanning over 100,000 square metres, within 2022,” he said, adding that Stella Park Compound will include 1,448 units varying between apartments and villas.