Edge Holding achieves EGP 1.5bn in sales of its OIA project in the New Administrative Capital, according to the company’s head of commercial sector Karim Mahmoud.
Mahmoud said that the OIA project is spread over 30 feddan in the New Capital, composed of only 20% of building areas, which include 1,300 units.
The company has achieved EGP 500m in sales of the residential part of the OIA in the first half of 2019.
He pointed out that the company is targeting an additional EGP 1.5bn in sales of the project during the current year, noting that the company has paid 50% of the value of the land to the Administrative Capital for Urban Development company.
Mahmoud explained that the company is planning new expansion opportunities in the North Coast and New Alamein.
About 40% of the company’s sales to Egyptians expatriates are mostly the result of exhibitions in which the company participated abroad and amounted to about $180m since the beginning of 2019, the company noted in previous statement.
Moreover, the company showcased new offers during the period of Al Ahram Real Estate Exhibition-Aqari with discounts of up to 10% and a payment system includes 0% down-payment and payment plan over eight years, he concluded.