By: Abdullah Bedeir

Cairo — Mubasher: Arkan Developers is looking to implement housing and educational projects with EGP 520 million in investments this year, the Egypt-based real estate firm’s chairman said.

The projects are part of 'Abniha [Build It]' initiative launched by the company in 2017 to set up housing units at affordable prices.  

Arkan is to launch a 220-unit real estate project in 6th October City named Jesse Health compound at investments of EGP 250 million this year, Emad Issa told a press conference held on Saturday.

The company will also build ten buildings this year with 100 units in 6th October City, Sheikh Zayed, and New Cairo at total investments of EGP 70 million, the chairman added.

In an effort to join the education sector to the initiative, the company has signed a cooperation protocol with a Canadian firm to manage ten schools that will be built under a shareholding scheme with investments of EGP 2 billion over five to seven years, Issa said.

In 2019, Arkan will implement an EGP 200 million school spanning a 8,000 to 10,000 land plot in 6th October City, the company’s chairman highlighted.

Under 'Abniha' initiative, Arkan has carried out 20 projects with a total of 200 housing units and with overall investments of  EGP 185 million, he said.

 Translated by: Ahmed Shehata