Eng. Sherif Othman.

Mirasol comprises140 units with flexible payment plans and a rewarding return for customers.

Egypt-based Grand Plaza for Real Estate and Tourism Investment has launched the second phase of the La Mirada Mostakbal City project, in Mostakbal City. The phase spans over 9 feddans and includes 140 units, Chairperson of Grand Plaza Eng. Sherif Othman has said.

Eng. Othman told Realty Catalogue that the new phase Mirasol consists of townhouses and duplexes with various sizes and payment plans to suit its discerning clients.

Eng. Othman added that the Mirasol phase comprises 80 townhouse units and 60 duplex units with different spaces.

Eng. Othman noted “The Mirasol phase is not only a place to stay; but it is an example of a luxury experience, as it is characterized by unique architectural designs that meet desires and demands of all customers. Additionally, the Mirasol is situated in an exceptional location, as it is 15 minutes away from New Administrative Capital Airport, 20 minutes away from Cairo International Airport, 10 minutes away from the Fifth Settlement, and 45 minutes away from Ain Sokhna.

Eng. Sherif Othman elaborated that the Mirasol features green spaces, security systems, clubhouses, parking areas and fire systems, pointing out that the company is always working to meet the growing demand in real estate market by providing real estate products with various spaces and payment plans to suit customers’ needs.

Grand Plaza targets EGP 800m in sales of Mirasol phase in La Mirada Mostakbal City project.

Grand Plaza’s Chairman revealed that the targeted sales of the offered phase are estimated at EGP 800m, which comes according to the sales and marketing plan set by the company in line with the current market circumstances.

He pointed out that Mostakbal city is experiencing a great demand during the last period in conjunction with the start of companies handing over their projects, the completion of Mostakbal for Urban Development (MIDAR) for a large proportion of utilities, and the completion of roads construction within various phases of the project according to the specified schedule.

The Grand Plaza has completed the full payment of dues of La Mirada Mostakbal City project, which is being built on 28 feddans with a total investment estimated at approximately EGP 4bn, he said, added that the company has achieved great construction rates in the project.

Eng. Sherif Othman stated that the first phase construction rate reached 85%, as the company directed all cash flows to construction works, and it is planned that the company will begin units’ delivery in the middle of next year.

The company completed facade work in the first phase without any change in its architectural design and with the same materials that were chosen from the beginning.

Grand Plaza has completed facades works without any change in its architectural design and with the same materials that were chosen from the beginning, according to Eng. Othman.

He concluded, “The Company seeks to take advantage of liquidity currently available in the market, especially savings that its owners wish to direct to purchase property as a safe investment. Accordingly, the company has developed flexible payment plans that enable customer to achieve a large and safe investment return and achieve the company’s investment goals.