The Saudi Egyptian Development Company, in cooperation with the Urban Communities Authority, launches the New Fustat Compound project in front of the eye-catching wall.
Contact us for more details and information.
- Direct contact with the sales department 01210001171
- Or through the hotline 19839
Location of New Fustat Compound
This site is located directly on Salah Salem Street in the Fatimid Cairo area and is located in front of the Majar al-Uyoun wall. It is one of the sites that carries great history and cultural importance in Cairo. This place is considered part of Egypt’s cultural heritage and is distinguished by its distinctive and historical location.
Its distinctive and historical location makes this place an important destination for visitors wishing to explore the cultural heritage of Fatimid Cairo and enjoy the beauty of the historical architecture in this unique location.
The first phase in New Fustat Compound
The Saudi company’s initial project covers an area of 71 acres and is a mixed-use project that combines the residential area and the tourist, hotel and entertainment area. The residential area includes 71 acres that have been allocated for residences and residential units.
As for the tourist and hotel area, it extends over an area of 16 acres and includes a theatre, fountains, cinema halls, the Hilton Hotel, and commercial areas, in addition to an underground garage that can accommodate up to 1,400 cars. There is a tourist walkway that adds to the project’s attractiveness.
This project is expected to be an important part of urban and tourism development in egypt as it will provide a distinctive residential environment and recreational and tourist areas that meet the needs of residents and visitors alike.
Specifications of New Fustat Compound
The new residential project is a huge project that includes 79 residential buildings, containing a total of 1,924 apartments. The project is expected to be received on June 31, 2024. The square meter is priced at 24,000
As for payment options, there will be a down payment of only 10% of the apartment value, and the rest of the amount can be paid in installments over 7 years. Apartment areas range from 130 square meters to 170 square meters, which provides various options for buyers according to their needs and preferences.
The company that owns New Fustat Compound
The Saudi Egyptian Development Company, the Administrative Capital, appears to be a company with a long history and rich experience in the field of real estate projects. This company was founded in 1975 and has a large capital of millions of dollars.
The company’s name indicates that it is a joint company between the Egyptian and Saudi governments. The Egyptian Ministry of Housing provides the necessary lands for the projects, while the Saudi Ministry of Finance implements the infrastructure and finances the projects.
The establishment of the company was approved after the approval of the People’s Assembly, and a decision was issued by the President of the Republic to establish it pursuant to Resolution No. 656 of 1975. The company began its activity with a total capital of $50 million, which was distributed equally between the Egyptian and Saudi governments.
This company is considered an example of investment cooperation between two countries, where money and resources are directed to developing real estate projects and improving infrastructure in the targeted areas.
Contact us for more details and information.
- Direct contact with the sales department 01210001171
- Or through the hotline 19839
