Final phase of Lasirena North Coast put up for sale

Mahmoud Omar: The delivery of 1000 units at three projects is slated for the second half of 2021

North Coast sees demand grow owing to construction boom at New Almein City… I expect prices to hike by at least 10 to 15 percent

Lasirena Group is poised to put up for sale the final phase of Lasirena North Coast at varied payment schemes including 10-year tenure.

According to chairperson of Lasirena Group Mahmoud Omar, only 100 units remaining from Lasirena North Coast compound will be offered, as these units are situated in outstanding locations near Aqua Park. With the 65m units enjoying higher demand, exceptional units will be offered.

Of the 1000 units of Lasirena North Coast, almost 900 units have been sold, of which 500 units have been delivered up till now, he added.

“The new phase due to be marketed will be handed over in the span of four years.”

The 55-acre Lasirena North Coast Compound, providing fascinating services ranging from fully operational commercial and entertainment centers, has received investments totaling EGP1.5bn, as Aqua Park will be launched next August.

Mahmoud Omar underscored the fact that coastal compounds, particularly in the North Coast, are experiencing higher demand in the wake of the Muslim Eid Fitr Feast.

He expects demand to continue to grow, amidst the scarcity of compounds and new phases of property projects that have been made available in the North Coast this season.

Moreover, North Coast’s rise in demand stems from the construction and development boom at nearby Almein City where top volumes of construction works help beef up the value-addedness of the whole area.

Omar expects prices of North Coast’s Compounds to hike in the months ahead by at least 10 to 15 percent range, adding that prices of Lasirena units increased 50 to 60 percent, up from those of units that were first put up for sale five years ago.

Lasirena Group is set to deliver 1000 units at three projects in North Coast, AinSokhna, Ras Sidr during the second half of 2021, he explained.

Lasirena Group companies have expansion plans for the Egyptian market and prioritize the injection of investments into 4th Generation Cities so as to keep pace with the state’s development and construction plan.