Arabisk Development is acquiring 8 plots of
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Arabisk Real Estate Development Company has acquired 8 plots of land in the Rabwa area in the New Cairo, formerly called the Beit Al-Watan area, where the New Cairo Developers Association submitted an initiative to change the name of the Beit Al-Watan area to the Rabwa area in the New Cairo.
The investments of the 8 land parcels are estimated at 150 million pounds, out of a total of 300 million pounds, the company’s investments for its various projects in the region, said Dr Abdel-Wazir, president of Arabesque Real Estate Development and chairman of the Support and Follow-up Committee of the New Cairo Developers Association.
He added that the company is launching its new projects in Rabwa area within days, in various areas, including the first, second, fourth and fifth neighborhoods, where it provides various areas for housing units for these projects.
He expected an increase in the prices of housing units in the Rabwah area, indicating that the minimum expected price per metre in the area is 9,000 pounds, compared to 7.5 thousand pounds during the current period.
It was confirmed that the Rabwa area attracts many developers during the coming period, since there are approximately 150 real estate developers during the current period, and they are expected to increase during the coming period.
The Rabwa area of the assembly the former «Beit Al- Watan» includes about 13,504 pieces, according to reports issued by the Ministry of Housing, distributed over 8 neighborhoods, of which about 6,322 pieces were allocated to the assembly area and 2684 other pieces were allocated to the most distinct lands and there are 1323 pieces in the first neighborhood, as for the second neighborhood it includes 2291 pieces. 1567 and for the fourth neighborhood there are about 2,149 pieces and the fifth neighborhood includes 1973 pieces, and for the sixth neighborhood there are about 1463 pieces, and finally for the eighth neighborhood, about 1230 Piece.