Cred Developments company has announced the launch of the “Ever New Cairo” project in New Cairo. This is an integrated residential, commercial, and administrative project spanning an area of 350,000 square meters, with investments amounting to 30 billion Egyptian pounds.
Engineer Ahmed Mansour, the company’s CEO, stated that the project is being executed through a partnership with the Urban Communities Authority, with a partnership ratio of 70% for the company and 30% for the Urban Communities Authority. The project is planned to be implemented in five stages, featuring a residential area comprising 2,100 housing units, including 500 villas with innovative designs and areas ranging from 200 to 550 square meters.
Mr. Ahmed Mansour announced this during a recent conference held by the company. The announcement was about their newest project, which will include 1600 fully finished apartments of various sizes. The company has already applied for the ministerial decree required for the project and is planning to begin construction by 2025. The project is expected to be completed by 2032, with the initial phases scheduled to be delivered by 2029. This is excellent news for those who need new homes, as it provides a timeline for future availability. Moreover, the apartments will be fully finished, so the buyers will not have to worry about additional renovations or finishes.
He highlighted that the ongoing project comprises a palace area of 120 palaces. Due to their high value, the company plans to sell these palaces entirely to foreign buyers. With ambitious goals, the company has set its sights on achieving contractual sales worth 35 billion Egyptian pounds from the project. The project is expected to significantly contribute to the company’s revenue, thanks to the high-end nature of the properties and the premium pricing strategy employed. The company is optimistic about the project’s success and is working hard to achieve its sales targets.
