MEMPHIS REISEN

FUD launches O|Kardia with EGP 3bn investments – Dailynewsegypt

Four U Development (FUD), a subsidiary of Al Batal Real Estate Investment Group, has launched O|Kardia, a mixed-use project in New Obour City, with a total investment of EGP 3bn.

FUD’s Chairperson Reda Karas said that the company has been operating in the real estate market for 24 years and has developed various projects, including residential, educational, and commercial ones, in Obour and Shorouk cities.

He added that O|Kardia, which spans 10 feddan, is a residential, commercial, and administrative project that has received ministerial approval before its official launch. The project is expected to be completed and delivered within three years.

He also stressed that the company sets realistic prices that reflect the changes in the cost of construction and ensure the timely completion of the project.

Karas revealed that the company plans to launch three new projects in the first half of this year, including one in Shorouk City. He said that FUD aims to increase its investment portfolio to EGP 6bn through an ambitious expansion plan that diversifies its projects and locations. The company intends to enter the New Administrative Capital and New Cairo markets, as well as one of the coastal cities.

FUD’s Chief Commercial Officer, Mohamed Nassar, said that pricing is one of the key factors in the new project, as it matches the customers’ purchasing power and accounts for the change in the construction cost, which requires solid market research.

He also said that the company’s current investments in the real estate market amount to EGP 2.5bn, which covers 525 residential units and 106 administrative, commercial, and medical units. He announced that the company plans to launch a new project in a coastal area in 2026.