Masress : Margins Developments begins construction in New Capital's Zia project

Mexico's inflation exceeds expectations in 1st half of April Egypt's gold prices slightly down on Wednesday Tesla to incur $350m in layoff expenses in Q2 GAFI empowers entrepreneurs, startups in collaboration with African Development Bank Egyptian exporters advocate for two-year tax exemption Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities Italy hits Amazon with a €10m fine over anti-competitive practices Environment Ministry, Haretna Foundation sign protocol for sustainable development After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida World Bank pauses $150m funding for Tanzanian tourism project China's '40 coal cutback falls short, threatens climate Swiss freeze on Russian assets dwindles to $6.36b in '23 Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production Climate change risks 70% of global workforce – ILO Health Ministry, EADP establish cooperation protocol for African initiatives Prime Minister Madbouly reviews cooperation with South Sudan Ramses II statue head returns to Egypt after repatriation from Switzerland Egypt retains top spot in CFA's MENA Research Challenge Egyptian public, private sectors off on Apr 25 marking Sinai Liberation EU pledges €3.5b for oceans, environment Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail Debt swaps could unlock $100b for climate action Acts of goodness: Transforming companies, people, communities President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution Amal Al Ghad Magazine congratulates President Sisi on new office term Egypt starts construction of groundwater drinking water stations in South Sudan Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program" Financial literacy becomes extremely important – EGX official Euro area annual inflation up to 2.9% – Eurostat BYD، Brazil's Sigma Lithium JV likely UNESCO celebrates World Arabic Language Day Motaz Azaiza mural in Manchester tribute to Palestinian journalists 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.

Margins Developments begins construction in New Capital's Zia project
Company directs EGP 4bn into Egyptian market, in addition to EGP 1bn of investments in Zia project

Shaimaa Al Aees Published in Daily News Egypt on 21 - 06 - 2021

Margins Developments has begun excavation and construction work for its new project, Zia, which is comprised of commercial, medical, and administrative units, according to Vice Chairperson and Managing Director Ashraf Shaheen.
Speaking at a press conference on Monday, Shaheen added that the investments that have been pumped into the project, located in the New Administrative Capital's (NAC) Downtown area, has reached EGP 1bn.
The company has recently signed a project management cooperation with the UAE's EFS Group, which is specialised in providing services, facilities management, and creating foundations for sustainable solutions throughout the Middle East.
Spanning over 18,000 sqm, the Zia project is comprised of 176 units of areas ranging from 24 sqm to 224 sqm, he said.
Shaheen added that the company intends to deliver the project by the end of 2023, whilst putting into effect its intention to expand in local real estate development and industrial development.
Margins Developments also intends to expand in the establishment of residential, commercial, administrative, and medical projects, into which it expects to direct approximately EGP 4bn in investments.
In addition to expanding its land portfolio, the company is also preparing to acquire new plots of land in the NAC and New Alamein.
Shaheen noted that the NAC, as a development project, maintains 70% of the existing sales share in the real estate market during the current period, supported by several main factors.
The most notable of these is the government support for the project, and the establishment of an unprecedented smart infrastructure in the city.
The Egyptian market has become more attractive for investment, especially in the wake of the government's measures to support investment and investors. This relates to reforms in legislative structure or pushing investment incentives to attract local and foreign investors, Shaheen noted.

Clic here to read the story from its source.