Cairo – Mubasher: Egyptian real estate company IL Cazar has unveiled its latest residential venture under the name The Crest, which marks the first collaboration with the UAE’s UDC Real Estate Development, the subsidiary of Mohammad Omar bin Haider Group (MOBH Holding).
The Crest spans 158 acres at the intersection of South 90 Street and E-Ring Road in New Cairo area and is launched at total investments worth EGP 30 billion along with expected target sales of EGP 60 billion, according to a press release.
The project is divided into three phases and offers a diverse range of residential units. Meanwhile, the construction work is expected to be completed within 3.5 years while delivering the units would commence in 2027.
According to IL Cazar's representatives, “The Crest will be implemented according to the latest global standards, hoping to provide clients inside and outside Egypt with a unique project, as IL Cazar planned to market the project locally and globally as a part of its dedication to supporting the Egyptian government’s efforts to attract direct foreign investments and enhance the Egyptian real estate industry."
The partnership agreement between IL Cazar and Emirati UDC was first signed in December 2023.
