Arabisk Development has launched the first phase of the Alcazar project with target sales of EGP 50m, according to Chairperson Abdul Hamid Al-Wazir
Alcazar is a mini compound and will be delivered within three years. Its first phase spans over 1,500 sqm and features Arab-Andalusian-style architecture.
Al-Wazir added that the company had signed several cooperation protocols with more than one mortgage finance company, noting that these protocols facilitate mortgage financing for clients in order to allow all customers to purchase housing units in accordance with banking systems that suit their purchasing power.
Furthermore, he said that the company plans to launch new projects in the coming period, pointing out that his company obtained three plots of land in the New Administrative Capital in partnership with a group of investors. The first project will be launched in the first half of 2022 on an area of 2,500 sqm in the Downtown area.
Arabisk Development also owns plots of land in the North Coast and Ras Sidr and plans to launch these projects in the coming period, according to Al-Wazir.
Chief Commercial Officer at Arabisk Development Hani Goda said that the company offers many payment methods that are appropriate for all customers, as these systems depend on the ease of procedures and provide payment plans that can last up to five and six years as well as a down payment starting from 10%.
He added that the first phase of the project includes three buildings, with areas ranging from 138 to 162 sqm per unit.