Better House Developments has achieved about EGP 1.2bn in sales at its Sky Capital project, located in the New Administrative Capital (NAC), according to the company’s Chairperson Romani Andraus.
Andraus said that the company has succeeded in selling all the residential units at the project, which exceed 600, in a short time.
He added that the Sky Capital compound, which is being built over an area of over 14 feddans, is located in the NAC’s R7 area. It is comprised of 19 residential buildings, with a built up area of 19%, under the maximum of 22.5% allowed for projects at the NAC.
Andraus said that the company has succeeded in maintaining the construction work schedule at the project site, despite the challenges of the novel coronavirus (COVID-19) pandemic. He added that, so far, more than 50% of the project’s construction work has been completed.
Mina Andraus, Vice Chairperson of Better House, said that the company has signed several cooperation protocols with advisors with the Egyptian State Lawsuits Authority (ESLA), as well as the Egyptian Pharmacists Syndicate. The protocols reflect the clients’ confidence in the company’s projects, as well as services it seeks to achieve within the development.
He said that the residential units at the Sky Capital project will be delivered semi-finished, provided that the company allows for finishing at affordable prices through a specialised affiliated department.
He also said that the compound’s delivery is scheduled for between the end of 2022 until the end of 2023. However, with the construction work already advanced, the company intends to deliver the units ahead of time by the end of next year.
Andraus added that the project is self-financed, and that the company does not plan to borrow from banks in the current period.
The company has marketed Sky Capital project to Egyptian expatriates, in line with the state’s strategy to export real estate. As a result, overseas sales make up more than 50% of the total project units, he noted.