Cairo – Mubasher: ARDIC for Real Estate Development and Investments is looking to invest EGP 1 billion in its latest project, Zizinia Al Mostakbal.
The project is part of the Egyptian real estate firm’s plan to boost investments in the Egyptian market and meet its demand, ARDIC said in a statement.
Almost 60% of the company’s residential units in the first and second phases of the compound, expected to be delivered in 2020, have been sold out, the company said.
Ashraf Dowidar, CEO of ARDIC, said: “We will continue to invest in the future of real estate and will be disbursing 1 billion Egyptian Pounds on Zizinia Al Mostakbal’s phase one and two.”
Zizinia Al Mostakbal will enable residents to use smart technologies that connect the entire community, ARDIC said.
The 70-acre complex is expected to feature 1,806 residential units that range from 160 to 570 square metres, the property developer noted, pointing out that 80% of the project has been allocated for greenery and landscape.
“The compound will also provide facilities for residents that include recreational, commercial and medical centres as well as a sports area, walkways and bicycle tracks, numerous parks and gardens,” according to the statement.
It is worth noting that ARDIC had invested EGP 15 billion in the construction of a 310-acres self-sufficient urban centrw in the Upper Egypt governorate of Minya in collaboration with the Ministry of Housing, Utilities and Urban Communities.
