El Attal Holding, a prominent Egyptian real estate developer, is set to embark on a new project in Riyadh, Saudi Arabia. In partnership with the Saudi Ministry of Housing, El Attal Holding will develop a real estate project featuring 1,500 residential units. The project is strategically located in Riyadh and is expected to kick off construction in Q4 2024. Further details about the project will be unveiled in the third quarter (Q3) of this year. Notably, the Saudi Ministry of Housing will hold a majority stake in this exciting venture.
During the first quarter of this year, El Attal Holding achieved impressive contractual sales, totaling 2.3 billion pounds. Looking ahead, the company has set an ambitious target of reaching 10 billion pounds in sales by the end of 2024.
Furthermore, El Attal Holding plans to inject substantial investments into construction projects during the current year. The company aims to allocate 4.8 billion pounds for construction work, a significant increase from the 2.9 billion pounds invested in 2023.
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