Mohamed Fouad, sales manager at Onyx Development said that the company has completed the procedures of building permits for a residential project in Maadi with an EGP 250m estimated investment.

Fouad added that the company intends to launch the project by the end of the current year, noting that the company plans to complete the project marketing within two years.

Additionally, the company will launch a new administrative and commercial mall project in Maadi with an estimated investment of EGP 40m.

He pointed out that the company is implementing six new housing projects in the Fifth Settlement and New Cairo with investments worth EGP 90m, comprised of various spaces for housing units ranging from 140 to 250 sqm.

The company has completed marketing 40% of the project and plans to complete the marketing throughout the current year, he disclosed.

Moreover, the company targets achieving EGP 120m in sales by year-end.