Beta Egypt for Urban Development has launched the first phase of its latest project, Beta Greens New Cairo, over a total area of 84.7 feddans in El Mostakbal City with initial investments of EGP 5bn, according to Beta Chairperson Alaa Fekri.
Fekri said that the company has obtained a ministerial decision concerning the projects and that the procedures for obtaining licenses began in order to implement construction sooner.
He added that the company plans to implement the project in six phases over five years. Beta Greens would include 3,000 housing units of various apartments, penthouses, duplexes, and 100 luxury villas.
“The first phase of Beta Greens New Cairo includes an integrated district of twin houses and twin house villas,” Fekri noted. “The company will also provide internal and external transportation as well as private buses to transport customers from the project to Heliopolis.”
He pointed out that the company is keen to provide services that meet the needs of its residents of different ages. A nursery will be available only for residents of the project, a mini market, playgrounds, swimming pools, and eight water lakes.
He added that the company followed the modern architectural style in the implementation of the project. “One of the largest consulting offices with about 300 engineers has been contracted to implement an innovative project to achieve Beta Egypt’s vision of integrated urban development.”
Fekri said that the percentage of buildings in Beta Greens New Cairo stands at 18.5% and that the company is keen to expand the area of landscaping and services on the project. Moreover, the company will continue to provide its distinguished aftersales services to the residents of the project to ensure continued quality and maintenance of the units.
He pointed out that the company aims to implement an integrated expansion plan during the current year and is interested in the investment opportunities available in many areas including the expansions of Sheikh Zayed, the northern expansions in Sixth of October, New Cairo, El Mostakbal City, the New Administrative Capital, as well as the North Coast and Ain Sokhna.
The company has several banking facilities from several banks, he explained, in the view of banking institutions’ confidence in the company’s solvency, its strong achievements, and track record.
Beta Egypt for Urban Development targets contractual sales of EGP 2bn during the current year.
He added that the presence of many real estate developers at El Mostakbal City in New Cairo creates high competition between companies to deliver products of the highest quality and best prices. “The distinguished location of El Mostakbal City in East Cairo is an added value for investments,” Fekri said.
The company has served as a real estate developer in the Egyptian market for more than 25 years and has implemented a range of projects.