Zahraa El Maadi Company for Investment and Development has signed a contract with Heliopolis Housing and Development Company to purchase a housing plot in the ninth district of New Heliopolis.
Zahraa El Maadi said on Tuesday that the land area is 31,201.935 metres, and costs EGP 3,470 per square metre.
The company added that the down payment of the land was 10% of the total price, and the remaining 90% was to be paid over five years in quarterly instalments, starting from March 2022 until December 2026.
Moreover, Zahraa El Maadi announced signing a contract with Leopard Contracting Company to develop and establish an integrated residential complex on the newly purchased land in New Heliopolis, on an area of 34 feddan, with estimated sales of EGP 3.29bn.
In January 2020, Heliopolis Housing and Development agreed with Zahraa El Maadi to sell a land in New Heliopolis for EGP 481.36m.
