In its first phase, the Better House Developments, a pioneering real estate company, has achieved contract sales of LE3 billion of the Vidala project.
Located on an area of 56 acres in the new city of el-Galala, the project’s investments are estimated at about LE3, excluding the value of the land, said Mina Andraos, vice-chairman of the company’s board of directors, adding that the project includes about 1,068 units of various sizes, as long as 400 hotel units, which will be managed through an independent hotel management company.
The project is scheduled to be finalized within two and a half years as maximum, he also said.
Being developed in 4 sales stages, the company raised the prices per metre within the project to reach LE24.9 thousand thanks to the huge demand the first phase has witnessed. The company started selling the first phase at a value of LE22.9 thousand per meter, he added.
Andraos added that the company has sold the “Sky Capital” project in the R7 area of the New Administrative Capital. With sales estimated at LE1.4 billion, the Better House succeeded in a record time in completing the sale of housing units in the project, which includes more than 600 units, he said.
The company has also achieved good sales in the “Sky Capital View” project in the R8 area, he also said.
The project is located on an area of 14 acres and includes about 19 residential buildings, with a construction rate of 19% of the total land area. The construction pace exceeded about 50%, he added.
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