Egypt’s Bousla Real Estate Development Company is preparing to construct 10 buildings in Fifth Settlement in New Cairo as part of the company’s ambitious expansion plan for the Egyptian market. 
Chairman Ahmed Nasr said the 10 buildings, which will include 120 apartments, would be developed at a total cost of 150 million Egyptian pounds ($4.9 million). 

The company is targeting sales of up to EGP250 million ($8 million) from the project.

Nasr said the company intends to deliver 6 buildings with 72 residential units during 2024 with sales revenue expected to touch EGP100 million ($3.2 million).

In 2023, Bousla Real Estate Development achieved sales amounting to EGP160 million ($5.2 million) while delivering 80 residential units.

(1 US Dollar = 30.90 Egyptian Pounds)

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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