Business

Arabisk Development plans to launch its new project in New Cairo with an investment of 15 billion pounds

By Eman Hamed

Arabisk Real Estate Development is planning to launch its new project in New Cairo, near American University and 90th Street, to create an integrated urban community.

The company plans to launch integrated development projects during the coming period, indicating that its new project will be launched within two months, with investments estimated at 15 billion pounds, said Dr Abdul Hamid Al Wazir, Chairman of the Board of Directors of Arabisk Real Estate Development.

He added that the project is still under way with engineering and design studies, which will be announced later upon the completion of these studies, stressing that the project is designed according to the highest specifications, in cooperation with the major consulting companies, to take into account the welfare of the population and in the highest quality of the modern Smart Home methods.

He confirmed that the company is studying all the opportunities available in the real estate market, explaining that another project is planned for the north coast and is studying the opportunities available in Marsa Matrouh, pointing out that after the announcement of the Ras El-Hekma deal and the development of the new city of El-Alamein, this region witnessed great demand.

He pointed out that sales in the real estate market witnessed a great demand during the past period, especially after the drop in gold prices, explaining that the demand for the coastal market is still low compared to the first housing, where the housing market holds 70% and the coastal 30%.

He explained that real estate prices are witnessing stability during the current period, which is expected to increase during the coming period, noting that investment in the real estate sector is a safe haven for customers, as real estate prices increased during a short period by at least 70% during the past period.

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