United Development Group (UDG) has achieved EGP 200m of contractual sales in its project "E Tower" within two weeks after its launch. CCO and Board Member at UDG, Tarek El Gedawy, revealed that E Tower witnessed high demand due to its distinctive location in CBD, its architectural design, and the various unit sizes and spaces offered. E Tower is UDG's first project in Egyptian real estate market; the company is currently planning to launch a number of projects worth EGP 5bn across several new cities soon, he noted, pointed out that another project launch at NAC as well in H1 2022. Furthermore, El Gedawy explains that there is a great demand for the administrative and commercial units in NAC, especially in the CBD, expected prices at NAC, specifically, to increase by 10% to 15% during the first quarter of next year. Scheduled for delivery in four years, the 14-storey E Tower mall spans 14,000 sqm at an investment cost of EGP 750m, El Gedawy elaborated.
