China's central bank injects 191.5b yuan via reverse repos    Israel intensifies Gaza offensive amid renewed diplomatic efforts, international pressure    Egypt launches annual coral reef monitoring programme in Red Sea    Emaar Misr, Citystars to develop EGP 900bn 'Marassi Red Sea' resort in Egypt    Egypt, Italy explore closer cooperation in military, civilian manufacturing    Madbouly meets with SunRev Solar to localize renewable energy component manufacturing    Egypt marks International Day of Clean Air at Wadi Degla Protectorate    Egypt launches hospital safety assessor training with WHO support    International force deployment in Gaza possible if requested by Palestinians: Egypt's FM    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egypt's FM vows full support for UNRWA amid Gaza crisis, Israeli pressure    Egyptian pound ends week lower against US dollar – CBE    Egypt expresses condolences to Sudan after deadly Darfur landslides    Egypt's FM affirms full support for UNRWA    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt uses dual aid routes to Gaza as trucks, airdrops continue: Madbouly    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Hometown launches first project in New Administrative Capital with EGP 1bn initial investment
Project planned to be completed within three years, Hometown managing director says
Shaimaa Al Aees Published in Daily News Egypt on 13 - 06 - 2018

Hometown Real Estate Development announced on Sunday the launch of the first administrative commercial project in the New Administrative Capital on 7,000 sqm, with an initial investments of EGP 1bn, according to Diaa Farag, chairperson.
Farag said that the project is being implemented over two phases and includes 10 floors. The first phase includes three commercial floors on 6,000 sqm, constituting 40 shops with spaces ranging between 50 sqm and 175 sqm. Meanwhile, the second phase includes seven administrative floors on 14,000 sqm, with spaces ranging between 120 sqm and 230 sqm.
He added that a garage will be built on two underground floors, along with a garden on an area of 1,150 sqm, in addition to other services and a landscape area of 5,000 sqm.
For his part, Hometown General Manager Ahmed Gamal said that the project is currently in the engineering design phase, which is being undertaken in cooperation with several foreign and local offices to utilise the latest techniques and technologies.
Gamal pointed out that these companies will be announced once the project is officially launched.
He explained that the project will be offered for sale after obtaining the ministerial approval and the completion of procedures for building permits, which are expected to be completed within six months.
He further noted that the project is planned to be completed within three years.
Gamal elaborated that investing in the New Administrative Capital is the best investment opportunity for real estate investors at present.
"The New Administrative Capital enjoys very promising investment opportunities, as it is the largest and best-integrated national development project in recent decades, and I expect pumping more Arab and foreign investments in the project in the near future," Gamal said.
The company developed the Premium 1, Premium 2, and Premium 3 projects in New Cairo and is connected to several services around the compounds.

Clic here to read the story from its source.