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Mabany Edris to invest EGP 2bn in 2024 – Dailynewsegypt

Mabany Edris for real estate investment is getting ready to launch the second phase of Central Avenue in Sheikh Zayed City, with a total investment of EGP 600m.

The second phase of Central Avenue consists of 63 units, including medical clinics, offices, commercial units, warehouses, and open spaces. Central Avenue is the first administrative and medical complex. The project features different spaces designed with modern technology and fully equipped, allowing customers to use and allocate any available space.

Mabany Edris’ Chairperson Mohamed Edris said that the company has hired Design Avenue company to design the project, and construction is scheduled to be completed by 2025, when the Central Avenue complex will be opened.

Regarding the company’s investment plan, Edris stated that the company aims to direct investments worth EGP 2bn into Egypt’s market in several projects in western Cairo, North Coast, and Upper Egypt.

He explained that the company plans to launch a medical project in New Assiut City this year. Moreover, the company is studying a new residential project in the city, as part of its interest to expand in Upper Egypt in Asayla compound, the first integrated residential compound in New Assiut.

He elaborated that the company has started delivering the first phase of the project. Some families have moved to live in Asayla, and new units will be delivered during this year.

Mabany Edris is also studying a new project in Cairo. It is also preparing to launch the third phase of the Koun project in the North Coast, which is located in Ras Al-Hikma on an area of 447,657.5 sqm, Edris concluded.