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04-02-19
Egyptian firms ink deal on urban initiative
(MENAFN) Egypt's Marseilia Real Estate Investment and Misr Real Estate Development inked an agreement on the construction of an urban initiative in the new Egyptian capital.
Under the agreement, the fully-fledged project will be covering 42 feddans by March this year with an aim to hit USD283.3 million in revenues.
According to Marseilia's chairman Sherif Helew, "the project is set to include 1,750 housing units, with spaces ranging between 90 square metres and 250 square metres and massive green areas."
Speaking during the signing ceremony, the chairman affirmed that "the built-up area won't exceed 20 percent."
MENAFN0402201900450000ID1098066670
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