Al Riyadh Misr Developments announced the launch of its new residential project in New Cairo, Peerage, with an investment volume worth approximately EGP 3bn, including EGP 700m in investments for the first phase.
Chairperson of Al Riyadh Misr Developments Mohamed Gamea said that the company, in its step to increase its investments and expand in the local real estate market, decided to establish its Peerage project, in cooperation with the largest consulting companies in Egypt and the Arab world, including Mohamed Talaat Architects (MTA), Precision Consulting Engineering (PCE), Ökoplan Landscapers.
Gamea pointed out that the company aims to expand in the Egyptian market by increasing the volume of investments and diversifying projects that meet customers’ desires, noting that the company’s next steps will be announced soon.
For his part, CEO of Al Riyadh Misr Developments Hossam Abdel Ghani said that Peerage is a mini-compound on an area of 10 feddans. The project is being self-financed and developed over 3 years.
Chairperson of MTA Mohamed Talaat said that the design of Peerage inverted from old English style along with a modern touch to satisfy all tastes with different spaces, colors, and distinct destinations, explaining that the design took into account the distinction of each unit from the other with a fair distribution of landscape.