Latest news with #EGP23
Zawya
20-02-2025
- Business
- Zawya
Egypt's Inertia eyes expansion in Saudi Arabia, targets Riyadh for first project
Egyptian real estate developer Inertia is planning to expand into Saudi Arabia, with a focus on Riyadh as its first market, the company's CEO Ahmed ElAdawy told Zawya Projects. He said the company has registered with the National Housing Company (NHC) and is currently studying available land opportunities. NHC is the investment arm of Saudi Ministry of Municipal and Rural Affairs and Housing for initiatives and projects in the Kingdom's real estate sector. "We are looking for plots ranging from 500,000 to one million square metres (sqm) at different locations based on project requirements. He added that they are targeting Riyadh for their first project in the Kingdom. Zawya Projects reported on Wednesday that the private developer achieved 10 billion Egyptian pounds ($199 million) in sales in 2024 against a target of EGP 8.2 billion ($162 million) and is aiming to achieve EGP23 billion ($455 million) by 2025. (Reporting by Eman Hamed; Editing by Anoop Menon) (
Zawya
19-02-2025
- Business
- Zawya
Egypt's Inertia plans to deliver 900 units in 2025
Egyptian developer Inertia is planning to deliver 900 units in 2025, the company's CEO said. Ahmed El Adawy told Zawya Project that private developer is planning to deliver 600 units in Jafeira project on the North Coast, and 300 units in Joulz and Brix projects in 6th of October city Joulz spans 115 feddans and includes 1,152 residential units while Briz spans 44,000 square metres (sqm) and includes 198 units. El Adawy said the company achieved 10 billion Egyptian pounds ($199 million) in sales in 2024 against a target of EGP 8.2 billion ($162 million) and is aiming to achieve EGP23 billion ($455 million) by 2025. The company has earmarked EGP 8 billion ($158 million) for funding construction and new project launches. El Adawy said they are planning to acquire 200 acres in East or West Cairo to build a mixed-use project incorporating residential, commercial, entertainment and sports components. (1 US Dollar = 50.61 Egyptian Pounds) (Reporting by Marwa Abo Almajd & Eman Hamed; Editing by Anoop Menon) ( (
