Artal Developments Launches EGP 12Bn STRIDE Project In New Cairo
Date
10/7/2024 11:06:46 PM
(MENAFN- Daily News Egypt) Artal Developments has announced the launch of STRIDE, a commercial, administrative, and medical project in New Cairo.
The project is located on the main northern 90th Street in the fifth settlement, and stretches over 13,600 sqm, with a built-up area of 57,200 sqm. The project will be developed in four consecutive phases to ensure the delivery of each phase according to the highest technical and construction standards, with deliveries starting in 2028.
The STRIDE project is part of a strategic partnership between Artal Developments and the Saudi BaBader Group, a Saudi-Egyptian partnership aimed at enhancing investment cooperation between the two countries in the real estate sector.
Maher Taha, CEO of Artal Developments, said that mixed-use project includes commercial and administrative units of various sizes, providing investors and business owners with flexibility in choosing spaces that suit their needs.
The STRIDE project's investment amounted to EGP 12bn, he noted, highlighting the great confidence in the Egyptian real estate sector and its ability to achieve lucrative returns for investors.
With the commencement of STRIDE project in New Cairo, it is expected that the real estate market in the region will witness further growth and prosperity, especially considering that North 90th Street is one of the most important economic axes in New Cairo, attracting increasing interest from investors and companies. The new project will enhance the area's value, provide new job opportunities, and stimulate the local economy.
The mixed-use project, launched in collaboration with BeBadr of Saudi Arabia, is a significant step towards achieving the company's goals of delivering distinguished real estate projects that align with the requirements of the modern Egyptian market.
Artal Developments, established over 27 years ago, has become one of the leading companies in developing integrated real estate projects.
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