Oscar Misr Developments plans to launch three new projects in the current year in the Beit El Watan area in New Cairo City with investments of EGP 35m, according to Chairperson Mohamed Beheiry.
Beheiry said that the company is preparing to announce three projects in separate buildings in Beit El Watan with areas ranging from 600 sqm to 1000 sqm and comprising of units of 128 sqm to 350 sqm.
Beheiry explained that Beit El Watan is expected to witness great demand in the coming period, as well as increasing demand for units within separate buildings because they meet the needs of a large segment of customers.
He pointed out that the company is developing a number of projects, such as Oscar Planet, a mini-compound, located on an area of 1,550 sqm in New Cairo, which includes about 40 units with different areas ranging from 118 sqm to 350 sqm, in addition to the development of several separate buildings in New Cairo and Shorouk city.
Furthermore, Beheiry noted that the company is self-financing its projects and it is committed to delivering its projects on time.
He expected that units’ prices in 2019 are expected to rise by 20% as a result of the natural annual growth rates in the market. There will be no new price hikes like the market vulnerability following the liberalisation of the Egyptian pound exchange rate and other economic reform procedures.