Eng. Ahmed Al-Wardani

The launch of the second phase of the YARU Compound project, with targeted sales of 450 million pounds

(CMD) Real Estate Development Company announced the launch of the second phase of its project YARU Compound and opened the door for reservations, with a selling target of 450 million pounds.

Eng. Ahmed Al-Wardani, founding partner and vice-chairman and managing member, explained that the company has launched the second phase of his project YARU Compound, which includes 267 housing units and 14 villas, with areas ranging between 70 and 240 meters.

He said that the company succeeded in selling the first stages and achieving the target, and that the extraction of drilling licences and the statement of validity have been completed and the final licensing is being obtained, adding that Contractive Development Corporation and CMD Real Estate Development Corporation have signed one of the largest strategic alliances in the real estate market with an investment target exceeding 4 billion pounds, to implement the YARU Compound project with a target investment of more than 2 billion pounds.

Al-Wardani explained that the signing of the contract with the company Contrack comes within the framework of the company's expansion plan in the real estate market and entering into its diversified activities, whether real estate development, contracting, infrastructure or real estate marketing, and this is included in the terms of the contract between the two companies.

The YARU Compound project is a 37-acre commercial hotel housing project with a total area of 1,577 units, of which 1,464 are residential units, including 48 hotel rooms and 34 are commercial units.

He added that Contrack and CMD companies are among the largest companies operating in the Egyptian real estate market and have long experience in various fields, where Contrack owns 10 companies affiliated in the fields of real estate development, contracting, infrastructure and real estate marketing, as it follows (CMD) 6 companies in different fields The signing of an alliance between the two entities A major event will generate an entity able to change the map of the real estate market as a whole, occupy the first position, and provide a unique, innovative and non-traditional real estate product added to the real estate market.