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Wednesday, 21 March 2018

Two real estate companies to invest a combined EGP 3.4 bn this year

Mena Group for Constructions and Trading is planning to invest EGP 3 bn in residential and touristism projects this year, Sales Manager Wael Salah El Din tells Al Borsa. Those include an EGP 2 bn residential and commercial project in Dokki — to be completed by 2022 — as well as a tourist beach compound in the North Coast and a residential project in Alexandria. The company is also planning to purchase 50 feddans for a residential compound in the new capital. Meanwhile, Smart House Real Estate is planning to double its investments this year to EGP 400 mn, CEO Wael El Ott tells the newspaper. The projects include the EGP 100 mn Oriana Compound in Mokattam, as well as others in the new capital and Al Galala.

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