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Sawiris launches real estate project in the United Kingdom

The real estate developer Orascom DH of Andermatt-Investor Samih Sawiris starts with the Joint Venture Eco-Bos, a residential project in the UK. The company is planning the construction of the West Carclaze Garden Village (WCGV) in Cornwall.

The financial viability of the project was secured, and the necessary permits would now be available, informed the company of the Egyptian Investor Samih Sawiris on Monday. Overall, to be built in a first Phase, on a total area of nearly 200,000 square meters of 270 residential units. The ground-breaking ceremony is to take place in February 2020, and the completion of the first phase of the project was provided until the third quarter of 2024. Starting in 2022 is expected with a positive contribution to cash flow and the accumulated losses until then, Orascom estimated at 1.3 to 2.6 million francs. The total sales are expected to come to be around 101 million Swiss francs.

is Active in seven countries

Orascom, the Eco-Bos project developed in collaboration with the French mining group Imerys, which holds the information according to a share of 25 percent of it. Is being managed by a community company of Maher Maksoud, the in November 2018 at Orascom operates.

the new project is Orascom is now in seven countries. Besides Andermatt, the Portfolio of development projects and destinations in Egypt, the United Arab Emirates, Oman, Morocco, and Montenegro includes. (sda/red)

Created: 04.11.2019, 08:34 PM

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