(MENAFN) Egypt's City Edge Developments stated that it has achieved 250 million Egyptian pounds (USD13.9 million) in sales from marketing the first phase of its residential flagship Etapa in Sheikh Zayed City, at the outskirts of Cairo, Amwal AL-Ghad reported.
The real estate development firm seeks to increase these sales to register 500 million pounds at the end of the first quarter of 2018 and one billion pounds at the end of the year, its chief executive Amr El Kady said Saturday.
"The residential project is being carried out on a space of 77 feddans in various spaces, with total initial investments estimated at around two billion pounds," El Kady further told Amwal Al Ghad.
In addition, the official said that his company plans to expand its business in the Egyptian cities of New Mansoura, New Administrative Capital, and New Cairo.
"The company targets announcing the implementation of new project before the end of this year," El Kady referred.
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