IL Cazar launches THE CREST in New Cairo with $1.94bln investments

  • Date: 08-Feb-2024
  • Source: Zawya
  • Sector:Real Estate
  • Country:Egypt
  • Who else needs to know?

IL Cazar launches THE CREST in New Cairo with $1.94bln investments

Egypt - IL Cazar Developments has launched its latest project, THE CREST, in New Cairo, with a total investment of about EGP 60bn. The project is part of the company’s expansion plan to launch several diverse projects in 2024 and 2025.

Nader Khozam, the Chairperson of IL Cazar Developments, said that THE CREST is a residential project that covers an area of 158 feddan. It offers various residential units, such as apartments, villas, quadros, and townhouses, with different sizes and views. The project has 3,000 residential units, with spaces ranging from 85 sqm for apartments to 400 sqm for villas.

Khozam said that the project construction is planned to start in the summer of 2024, and the delivery is expected to begin by the end of 2027.

He added that the project provides various services with a total area of about 35,000 sqm, and has a built-up area of only 17%. The rest of the project area is dedicated to services and green spaces.

He pointed out that the company has a portfolio of real estate projects with a total of 6 projects, 3 of which have been launched so far, and 3 of which are planned to be launched in 2024 and 2025.