With targeted investments exceeding 2 billion pounds, the launch of the (YARU Compound) project in an alliance between (Contrack) and (CMD)
The two companies (Contrack) for urban development and (CMD) for development signed one of the largest strategic alliances in the market, with the aim of developing an investment target exceeding 4 billion pounds.
The consortium announced the launch of a first batch of its projects, its shalph, its purchase, and its purchase, and it obtained financing, with a size greater than 2 billion pounds.
Ahmed Al-Wardani, co-founder and vice-chairman of the board of directors and managing director of (CMD) explained that signing with (Contrack) comes within the framework of the company’s expansion plan in the market, and entering into that diversified or real estate development, contracting, infrastructure or real estate marketing, and this is what the contract included between the two companies.
Al-Wardani said that the YARU Compound project is the first work of the new alliance. It is a residential-commercial-hotel project with an area of 37 acres, with 1,577 units, including 1,464 residential units, including 48 hotel rooms and 34 commercial units.
Al-Wardani Companies The two companies (Contrack) and (CMD) are among the largest companies operating in the market and they have long experience in various fields. (Contrack) owns 10 subsidiaries in the fields of development, contracting, infrastructure and real estate. Between the two entities, a major event occurred that will generate an entity capable of changing the rate of change and change in products and unique, innovative and unconventional real estate products added to the market.
Al-Wardani said, “We aim to implement huge deals and investments in the real estate market, and implement a number of major real estate projects in the new capital and Cairo for the project and the new Alamein, and investment, and it started estimated at 2 billion pounds, and the sale value exceeds 3 billion pounds.” Pointing out that (YARU Compound) is the first alliance steps in the market and an implementation plan A large package of various projects in the new administrative capital in line with the state’s development plans and based on the capital, which will be the investment destination for the world and the support and backing it enjoys from him and His Excellency President Abdel Fattah El-Sisi