La Verde Developments aims to invest LE 1B in Egypt during 2021

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Tue, 02 Mar 2021 - 03:48 GMT

Real estate in Egypt - File Photo

Real estate in Egypt - File Photo

CAIRO – 2 March 2021: La Verde Developments Company aims to invest about LE 1 billion in its projects during 2021, including LE 500 million in the New Administrative Capital, Chairman of the company Ibrahim Lashin said Tuesday.

 

Lashin added in a statement, that the company aims to achieve about LE 900 million in sales from its projects during the current year 2021.

 

The chairman of La Verde explained that the company intends to invest LE 1.8 billion pounds in a residential project with integrated services on an area of ​​35 feddans in the New Administrative Capital, in addition to investing about LE 2.5 billion in another residential project in the New Administrative Capital on an area of ​​60 feddans.

 

“The company is launching a new product, which is fully finished and furnished hotel units, coinciding with the launch of the Capital of Hope exhibition under the auspices of the New Administrative Capital,” Lashin added.

 

For her part, Vice Chairman of the Board of Directors of the company, Naglaa Tahoun, expected a big real estate boom during the coming period, after overcoming the repercussions of the corona crisis, while adhering to all precautionary measures and preserving the wheel of the national economy in its various sectors.

 

She indicated that the new year will witness a great start to the real estate market, especially in light of the construction boom that the new fourth-generation cities are witnessing, such as the Administrative Capital, Galala, New Alamein and New Mansoura, which allows for a great diversity of supply in the real estate market, whether residential or coastal, as well as the openness of Egypt with all Gulf states, some Gulf Arab reconciliation.

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