Welcome to e-Ramadan    Egypt's Illicit Gains Authority unfreezes assets of Mubarak-era interior minister, key aide    UAE honours Egyptian icons for 2019 Year of Tolerance    Soccer club president latest tie to French corruption probe    Trump urges greater Japanese investment in US, knocks trade advantage    Egypt condemns parcel bomb attack in France's Lyon    Messi finishes Europe's top scorer for third straight year    The ‘Deal of the Century' is not the end    Solar energy and the future    All credit to Egyptian women    Esperance hold 10-man Wydad to 1-1 draw in African Champions League final    In search of historical women    Suez Canal Authority head hails role of simulation centre in training his staff    Why the dollar went south    Kenya's high court unanimously upholds ban on gay sex    72nd Cannes Film Festival: It's all about fresh talents    SODIC to pay EGP 1.2bn of outstanding land dues in 2019    Fanzir plans to launch 3 projects, open HQ in Egypt: Aljishi    Tazkarty, online booking for AFCON tickets launched    Egypt saves $350m by improving energy efficiency: Petroleum Ministry    US warns Al-Assad following suspected chemical attack    Huawei sales will not be affected by Google's suspension of business: MTI    Four women challenge male-dominated food market in Ramadan    Lack of proper waste management in Egypt causes accumulation of marine plastic litter    Aiisha Ramadan & SADAFA Collaborate for SS'19 Arab Fashion Week    Shoukry, Sadadi convene in Cairo over regional updates    Banking draft law will not impose term limits on state-owned banks' board members: source    12 alleged militants killed in two separate raids in Al-Arish    Repatriation: Why Western museums should return African artefacts    Omani author Jokha Alharthi wins prestigious Booker International Prize    Al-Karma to publish Tawfik's last short story collection in June    Breaking the record    Amending judicial regulations    Pre-emptive strikes    Mubarak speaks    Newsreel    Connected for exams    Egypt name national team's initial squad for AFCON 2019    General Prosecutor orders release of five prominent detainees    Mascot revealed, tickets on sale    Only one path to glory    Messages to Tehran    Don't miss Al-Leila Al-Kebira puppet theatre operetta at Al-Hanager Arts Centre    In search of historical women    Twelve alleged militants killed in shootout with police    Malawians vote in tough presidential election    Angry at being dubbed a hustler, Maradona dismisses new film    The alternative economy in Ramadan    

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

New Plan Developments invests EGP 8bn in New Administrative Capital
Company sells out Serrano project within six months of its launch
Published in Daily News Egypt on 01 - 04 - 2019

New Plan Developments plans to invest EGP 8bn in three real estate projects in the New Administrative Capital (NAC).
Walid Khalil, founder of the company, said that they plan to direct EGP 3bn in investments for the construction of the company's projects this year.
On the other hand, he revealed that the company has sold out the Serrano project within six months of its launch. Serrano is a residential project on 15 feddan, and comprises of 622 units, with a total investment of EGP 1bn.
Khalil pointed out that the company began the earthwork of the Serrano project last month, and that the project construction will commence during the coming period. Moreover, the company has obtained the ministerial approval for the project implementation.
He also revealed that the company is developing its second project, ELEVEN, which is an administrative commercial building in the central business district (CBD) in the NAC. It will be built on an area of 7,500 sqm, with targeted sales worth EGP 1.2bn. The company has begun marketing the ELEVEN project two weeks ago and almost 10% of it was sold.
Additionally, he revealed the company's third project ATIKA, which was launched for the first time during the Cityscape exhibition. It is situated on 36 feddan in R7 district of the NAC, and encompasses 1,500 units, with investments reaching EGP 4.5bn.
New Plan also plans to implement a residential tower in the capital's towers area in the CBD, comprising of 35 floors with diverse activities, in addition to an international school on an area of 25,000 sqm, Khalil said, noting that the company has obtained the land approval for the project, and the ministerial approval is underway.
“Two projects are under study. The first is in the 6th of October City, and the other is in the North Coast, and we plan to place investments worth EGP 1.5bn in these projects this year,” he disclosed.
He highlighted the strength of the real estate market in Egypt, and the existence of genuine demand, expecting a price hike of about 10% this year, which will not affect customers' drive to purchase real estate.

Clic here to read the story from its source.