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    Zahraa Maadi Investment to develop integrated residential complex in New Heliopolis

    23 Nov 2021

    ArabFinance:Zahraa Maadi Investment and Development (ZMID) has signed a contract with Leopard Construction to develop an integrated residential complex in New Heliopolis, the company said in a statement filed to the Egyptian Exchange (EGX).

    The new complex will be established over a 34-acre land plot, Zahraa Maadi Investment added.

    Sales from the new project are estimated at EGP 3.29 billion, the company highlighted.

    The two companies will participate in the development and construction of the new complex with a percentage of 50% each, according to the statement.

    Zahraa Maadi is an Egypt-based public shareholding company engaged in real estate development, construction, contracting, urbanization, housing, and tourism, as well as other investment activities.

    The listed firm is involved in the construction and development of residential and commercial buildings, as well as the purchase, sale, and reclamation of lands and properties.

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