Sunday , October 24 2021

'Concept' is considering the development of a 'commercial administrative' project in the administrative capital



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Ihab Abulmajid, President of the Concept Real Estate Development Company, said that the company is studying the development of a commercial administrative project in the administrative capital, and is currently conducting a trade-off between several lots to advance one of them.

In a statement to Al-Masry Al-Youm, Al-Masry Al-Youm said that administrative capital received a great demand from clients, especially service projects, in view of the government's efforts to transfer large numbers of its employees in the future next. Project, including banks and embassies.

He noted that the company has launched the third phase of the Cilla north coast project for about two months and includes 250 field units, and is expected to be completed next summer.

The project will be completed on 10 acres, comprising about 600 units. The first phase of the project has been completed, 85% of the second phase will be completed. The first phase will be completed next summer and the second will be 6 months later.

Abu Al-Majid requested a map of the coastal lands, specifying the position of each piece, its possession and how to obtain it, and a system to expand development rates in the region.

He added that the new city of El Alamein will receive great attention from overseas clients, under the support of state powers and its overall planning, as well as ensuring outstanding projects such as Al-Alamein Towers, noting that the projects on the coast are more acceptable for export abroad, where his company managed to market 10% of its non-Egyptian project.

He explained that the liberalization of the exchange rate halved the value of real estate in Egypt to foreigners, and this is one of the attractive features of the Egyptian market, especially since property is a safe investment for any buyer, whether Egyptian or foreign .

Al-Khobar ("Concept" is considering the development of a "commercial administrative" project in the administrative capital (Egyptian Today)
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