Metawee Group announced the launch of the second phase of its project La Vida located in Heliopolis, they reported in a statement Monday.
The project aims to provide 500 housing units with total investments of EGP 230m provided through self-financing.
“The compound comes as a part of Metawee Group’s plan to develop the real estate sector in 2016 and provide a larger, more comprehensive portfolio that includes residential, touristic, and administrative projects,” the statement read.
The company has finished all procedures for the first and second phases at a cost of EGP140m including implementing 60% of the project, CEO of Metawee Group Mohamed Metawee said. The project at La Vida Compound has provided 300 daily labour opportunities so far.
As for the project’s third phase, the company will open its booking with different payment and installment methods. “The company is scheduled to end the third phase and complete the compound by 2019,” Metawee reported.
La Vida compound is built over an area of 26,000sqm in New Heliopolis City, “which is just a few minutes away from New Cairo and the 5th settlement,” Metawee Group’s Marketing Manager Aya El-Shenawy said.