Misr El Gadida Housing secures 766-feddan land in Hadayek Al-Asimah
Updated 1/30/2025 9:46:00 AM
Arab Finance: Misr El Gadida Housing and Development Company has received a 766-feddan land plot in Hadayek Al-Asimah, with a total value of EGP 12.118 billion, as per a disclosure.
The company has completed the initial down payment and secured an installment plan for the remaining amount over eight years, aligning with its financial and self-development plans.
Sameh El-Sayed, managing director and CEO, stated that the land, located near Cairo, New Heliopolis, and Madinaty, marks a significant step in the company’s expansion strategy and reinforces its position as a leading real estate developer.
In parallel, the company is developing 300 feddans in New Heliopolis, with ministerial approval pending for the first 25-feddan phase, designed by ECG Engineering Consultants.
Infrastructure enhancements in New Heliopolis are also underway, including increasing water allocation, roadworks, and upgrading the water treatment plant.
Additionally, the company has initiated the design process for two administrative and commercial plots in Sheraton Residences, Heliopolis, in collaboration with Yasser El-Beltagy’s office.
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