Lasirena Group is poised to put the final phase of its Lasirena North Coast project up for sale at varied payment schemes, including a 10-year instalment option.
According to Mahmoud Omar, Chairperson of Lasirena Group, only 100 units remaining from the Lasirena North Coast compound will be offered, as these units are situated in outstanding locations near the Aqua Park.
Of the 1,000 units within Lasirena North Coast, almost 900 units have been sold, of which 500 units have been delivered until now, he added.
“The new phase due to be marketed will be handed over in the span of four years,” Omar said.
The 55-feddan Lasirena North Coast compound, which provides a variety of services including fully operational commercial and entertainment centres, has received investments totalling EGP1.5bn. It is noteworthy that Aqua Park will be launched next August.
Mahmoud Omar underscored that coastal compounds, particularly along the North Coast, are experiencing higher demand in the wake of the recent Eid Al-Fitr holidays.
He expects demand to continue to grow, amidst the scarcity of compounds and new phases of property projects that have been made available in the North Coast this season.
Moreover, the North Coast’s rise in demand stems from the construction and development boom at the nearby New Almein City. It is here that top volumes of construction works help significantly raise the added value of the whole area.
Omar expects prices of North Coast’s compounds to hike in the months ahead by at least 10 to 15 percent range, adding that prices of Lasirena units increased 50-60%, up from those of units that were first put up for sale five years ago.
Lasirena Group is set to deliver 1,000 units at three projects in the North Coast, Ain Sokhna, and Ras Sidr during the second half (H2) of 2021, he explained.
The group’s companies have expansion plans for the Egyptian market, and prioritise the injection of investments into fourth generation cities so as to keep pace with the state’s development and construction plan.