NCB Developments announced the launch of its first project in the New Administrative Capital (NAC), Verity, this week with investments worth EGP 500m. Gerges Lawendy — Chairperson of NCB Developments — said that Verity is the company's first investment in NAC, highlighting that the company's Board of Directors has a vision in investing in the development and construction of this mega national project through a package of projects that are appropriate for the city. Furthermore, CEO of NCB Developments Ahmed Mahdy stated that the launch of the Verity project at the present time came after a number of financial, marketing, and engineering studies that were prepared by the best specialists, as well as the company's confidence that investing in real estate is the best and most secure investment of all. He added that the company has assigned Archrete as an architectural consultant for the project besides contracting with Brain2Fact to operate and manage the commercial mall. CCO of the company Sherif Al-Ghazaly also pointed out that the project comprises a ground and 12 commercial, medical, and administrative floors on an area of 3,632 sqm. He added that the first phase of the project has been launched and that the second phase will be offered next month, followed by a third phase. It is expected that the project will be sold out within six months.
