The Saudi Egyptian Construction Company (SECON) announced opening the door for reservations in its new Bleu Vert compound in the New Administrative Capital (NAC) last Wednesday, established with a total investments of EGP 10bn. The company, one of real estate development companies jointly owned by Saudi and Egyptian governments, said that the project spans over 70 feddan in one of the most distinctive areas of the NAC. Mohamed Abdel Hafez, head of sales at Secon, said that Bleu Vert is a luxury residential compound comprised of 2,000 residential units including apartments, twin houses, town houses, villas, and duplexes of various spaces. Abdel Hafez added that the project also offers all different commercial and recreational services to meet the customers' needs. Mohamed El-Taher, CEO of the company, said that Secon obtained the plot of land in the first offering and was one of the first companies to apply for a distinctive piece of land in the New Capital. The company believes in the feasibility of investing in the New Capital as a megaproject and the necessity of having the company in the most attractive areas as part of its expansion strategy in the Egyptian market, El-Taher noted. He elaborated that the company has current investments in New Cairo with an integrated residential project on an area of 68 feddan, in addition to the company's investments in its project in Upper Egypt in New Assiut City of on an area of 13.5 feddan. That is in addition to the company's investments in north Egypt in a residential project on 17.7 feddan in New Damietta overlooking the Mediterranean Sea.
