Arab Developers Holding has sold 497 units worth EGP 1.81bn in the Nyoum Mostakbal project in East Cairo within nine months, bringing the total sales of the project to EGP 2.65bn for 980 units. The project, which is located in Mostakbal City near the New Administrative Capital, is the company’s fifth project in East Cairo and covers an area of 151 feddans.
The project was designed by London-based WATG and features a golf course by Green Tyger Design. It offers 4,633 units, including 382 villas and 3,092 apartments, as well as 1,159 mixed-use units and various facilities such as schools, a club, and a shopping mall.
Gamal Fathallah, the chairperson of Arab Developers, said that the company has invested heavily in the East Cairo region by developing five projects in New Cairo and Mostakbal City. He added that the company achieved a remarkable growth in sales volume during the first nine months of 2023, ranking first among real estate companies in terms of sales growth rate.
Ayman bin Khalifa, the CEO of Arab Developers, said that the company has completed 68% of the first phase of Nyoum Mostakbal, which consists of 81 villas, and plans to invest EGP 40m in the project during the last quarter of 2023. He also revealed that the company aims to increase its spending to EGP 460m next year and deliver the first phase units by then.
