By: Abdullah Bedier
Cairo – Mubasher: Castle Development, a subsidiary of Saudi-based real estate group ABC, is looking to log EGP 2 billion in sales from the two phases of Castle Landmark project in the New Administrative Capital by the end of 2019, the company’s CEO said on Monday.
The second phase of the project will be launched this month with EGP 550 million in investments, Ahmed Mansour told reporters in Cairo.
Mansour highlighted that the second phase, featuring 378 residential units, will be handed over in 2022.
In August, Castle Development announced the launch of Castle Landmark in the new Capital in collaboration with Misr for Central Clearing, Depository and Registry.
Castle Landmark, a full-fledged complex, was built over 41.5 acres with EGP 5 billion in investments.
He further noted that the company is investing EGP 8 billion in other residential and commercial projects in the new capital.
Translated by: Mai Ezz El-Din
