By: Abdullah Bedeir
Cairo – Mubasher: Reedy Group is planning to invest about EGP 11-15 billion over the coming five years through its subsidiary Reedy for Real Estate Investment, the Managing Director, Karim El-Reedy, revealed.
The investments will be directed to projects in El-Sheikh Zayed, New Cairo, and the North Coast, El-Reedy told reporters.
Reedy for Real Estate Investment is implementing a mixed-use project in New Cairo with investments of EGP 1.5 billion.
The development, spanning over 25 feddans, will feature 152 villas as well as administrative and commercial units over a building area of 11,000 square metres. The project will also include a water desalination plant.
Scheduled for completion of in December 2021, the project has been 70% complete with investments of EGP 1 billion.
El-Reedy further revealed that the company is currently in negotiations to acquire land plots with an average area of 100 feddans in El-Sheikh Zayed, New Cairo, and the North Coast to build several residential projects.
Reedy Group has a paid-up capital of EGP 500 million and an authorised capital of EGP 1.5 billion.