By: Abdallah Bedier
Cairo – Mubasher: Inertia Holding Group has generated EGP 2.8 billion in sales during the first nine months of 2018, the company’s CEO said.
The Egyptian real estate firm is targeting sales ranging between EGP 3.8 billion and EGP 4 billion by the end of this year, Ahmed El Adawy told Mubasher.
The company has signed construction contracts worth EGP 550 million as part of an EGP 700 million at the end of 2018, El Adawy highlighted.
Inertia is currently implementing its project Jefaira in Marsa Matrouh over 5.5 million square metres with EGP 20 billion in investments, he added.
The project will feature 14 neighbourhoods, in addition to educational, tourism, medical, and sports activities, he indicated.
Sale has already started in three neighbourhoods, he said, pointing out that delivery is expected in 2020, 2021, and 2022.
As for the company’s project in El Gouna, the CEO noted that the first phase has been handed over and the second phase is being implemented for delivery in 2019.
El Adway also unveiled Jewels projects, being built over 500,000 square metres with EGP 2.8 billion in investments. The project is being executed in 4 phases and the fourth phase is expected to be delivered by the end of the year.
Inertia is also implementing another project in Sahl Hasheesh spreading over 140,000 square metres with EGP 450 million in investments, he added, noting that the second phase of the project is expected to be delivered next year.
Translated by: Mai Ezz El-Din
