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Gardenia Compound .... targeted at middle-income citizens.

Al Shams to develop final phase of Egypt residential project

CAIRO, March 30, 2015

Egypt's Al Shams Company for Housing and Development will pump E£300 million ($39 million) this year to develop the fourth and final phase of the Gardenia Compound project in 6th of October City in Cairo.

Targeted at middle-income citizens, the project comprises 85 buildings, reported the Daily News Egypt.

Al Shams is currently implementing the fourth and final phase of the Gardenia Compound on an area of 120 acres in 6th of October City, stated the report citing its CEO Mahmoud Maghawry.

The project includes 720 housing units, with every unit built on an area of 120 to 280 sq m, he noted.

The Al Shams Company has finalised the building and marketing of about 80 per cent of the units for the first three phases that have a total of 350 buildings.

The construction work on the project will be completed in June next year.




Tags: Egypt | investment | project |

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