EGP20bn expected from sale of residential units at New Capital City
The New Capital City is set to include 25,000 residential units, with an expected total sales figure of EGP20bn. Contracts to build 642 apartment buildings, targeting the upper and the upper-middle segment, have been awarded to seven contractors, with completion due before end of 2017. A discussion over the sales mechanism of these units is currently ongoing. Terms will likely include both cash and installment options. (Al Borsa)
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