(3 minutes read)
· The Eastern Developments plans to direct EGP 100m into construction work during 2021, and that it has begun earthwork on the site
· The company has developed an expansion plan for a package of new projects located in west Cairo during the coming period. The company already has a land bank that enables it to develop more project in that region
The Eastern Developments plans to direct EGP 100m into construction work during 2021, and that it has begun earthwork on the site. The company has developed an expansion plan for a package of new projects located in west Cairo during the coming period. The company already has a land bank that enables it to develop more project in that region.
Hisham El Fouly, Head of Sales at Eastern Developments, said that the Genova compound includes 768 residential units with areas ranging from 126 sqm to 220 sqm. He added that that the company is targeting EGP 1bn in sales at the project in 2021. The project’s marketing plan has been developed to include various payment mechanisms commensurate with the purchasing power of target customer.
This includes payment systems extending to 10 years with a 10% down payment, in addition to guaranteeing a resale profit of no less than 5% annually and 25% for renting serviced-apartments.
Magdy Matar, general consultant at the Genova project, said that the development’s engineering designs were developed to suit all customer tastes.
It includes utilising the entire unit space, in addition to distributing units over the total area of the project and distributing areas of services to make Genova an integrated project that includes all activities and services.
