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500 residential units of Park Lane delivered in Q4 2024 Egyptian private real estate developer Attal Properties is targeting a 37 percent year-on-year sales increase in 2025 as it advances multiple residential and mixed-use developments, stated Chairman Ahmed Attal. The company, which achieved EGP 8 billion ($159 million) in sales last year, is targeting EGP 11 billion ($219 million) for 2025, he said. Additionally, it plans to increase construction expenditure to EGP12 billion ($239 million) in 2025 compared to EGP 7 billion ($139 million) in 2024. Attal Properties delivered 500 units in the last quarter of 2024 as part of the first phase of the Park Lane project in the New Administrative Capital (NAC). At Attal Properties, we believe that our commitment to the agreed delivery dates reflects our respect for our clients and their trust in our projects,” said Attal, adding that the company already completed about 85 percent of the total construction in the project. The 28-acre project is located in the R7 area of the NAC, and consists of four phases, each containing 15 buildings. The project includes 1,100 residential units and also retail, office, and hotel units. Park Lane’s residential portion was designed by the Raef Fahmy Architects while the hospitality part was designed by Hany Saad Innovations. Attal said the newly launched ‘Project 101’ in New Cairo, a jonint initiative with Arab Contractors, has achieved sales of EGP 4.8 billion ($96 million) since its launch in June 2024. The project, located in the first phase of Mostakbal City in New Cairo, spans a total area of about 424,000 square metres (sqm) and includes maisonettes, twin houses, townhouses, villas, and residential buildings. Inversion is managing the project development in partnership with Spanish architecture firm Vilalta Studio and YBA Engineering Consultants. The company is also advancing the Raef Fahmy Architects-designed EGP 14 billion ($279 million) West Leaves in West Cairo. The 38-acre development includes residential, commercial, and office units. Attal said the company has collaborated with Siemens to incorporate alternative energy solutions and water and energy consumption optimisation in the project. (1 US Dollar = 50.23 Egyptian Pounds) |
