By: Ahmed Allam
Cairo – Mubasher: Al-Futtaim Real Estate is planning to launch four property projects in 2018 with EGP 7.5 billion ($425 million) in investments, managing director Ashraf Ezz El-Din told Mubasher on Tuesday.
The new projects will be located at Cairo Festival City, on the east side of the Egyptian capital, he added.
The sales of the anticipated projects are estimated at around EGP 15 billion, Ezz El-Din highlighted.
He also revealed that the projects include High Land with 407 residential units and Aura with around 146 villas.
The UAE-based firm will build an administrative building called “the Podium”, which is expected to span approximately 70 to 500 square metres, in addition to an administrative building for one of the international oil firms, he noted.
In December, Al-Futtaim Real Estate announced its participation in the Cairo Festival City project during the Nile Expo event held at the Abu Dhabi National Exhibition Centre, the UAE.
Translated by: Mai Ezz El-Din
