Better House for Real Estate Investment achieved EGP 3 billion in contract sales of the phase I of the Vidala project, which is located on an area of 56 feddans in the new city of Galala.
Mina Andraos, Vice Chairman of the Board of Directors said that the project’s investments are estimated at about EGP 4 billion, and includes about 1,068 units, with various areas ranging from 55 sqm to independent villas, in addition to 400 hotel units within the project, which will be managed by an independent hotel management company.
It is planned to be implemented within a maximum of 2½ years.
Andraos explained that the company aims to implement the largest health center for energy therapy in the Middle East, which will be managed by international specialists from around the world, and the project will include a seashore of 4 feddans.
He added that the project contains all the services that allow the client to enjoy spending a special time inside, in addition to a forest, which will included pets.
The Vidala projects divided into 4 sales phases, where the company raised the prices per square meter inside the project after the increasing demand to reach EGP 24,900 pounds per sqm.
The mother company had sold the “Sky Capital” project in the R7 area of the New Administrative Capital with sales estimated at about EGP 1.4 billion.
The project is located on an area of 14 feddans and includes about 19 residential buildings, with a construction rate that did not exceed 19% of the total land area.
“Better House” succeeded in maintaining the progress of construction within the project site during the outbreak of the coronavirus, where the percentage of construction within the project exceeded 50%.
The company achieved good sales in the “Sky Capital View” project in the R8 area, which includes about 600 units.
He pointed out that the company directed the marketing of the project to Egyptian expats, in line with the state’s plan to real estate exports, as overseas sales amounted to more than 50% of the project’s total units.
He explained that the company made a number of visits to European countries, including Italy, the Netherlands, Austria and Hungary, during which it met a large number of Egyptians residing in those countries.
“Better House” was established in 2013, during which it implemented many separate projects in El Shorouk and New Cairo.