Chairperson of Grand Plaza Sherif Othman has announced the completion of 80% of the first phase of the Lamirada Al Mostakbal project, with delivery set to begin in the middle of next year.
The company now targets launching the second phase, Mirasol, which will include 140 units; 80 townhouses and 60 duplex units, on an area of 9 feddan.
Othman said that the targeted sales from the launch are estimated at approximately EGP 800m, in line with the company’s sales and marketing plan that is tailored to the current market situation.
He noted that the Lamirada Al Mostakbal project, which is being developed on an area of 28 feddan, costs about EGP 4bn.
The project will include a commercial hub, recreational areas, and a clubhouse to serve the project’s residents and surrounding areas. Othman explained that the company seeks to take advantage of the liquidity currently available in the market, especially the savings that their owners wish to direct towards purchasing real estate units as a safe investment.
