Paragon Development, a reputable real estate developer, announced that it has achieved contractual sales worth one billion pounds in its projects since the beginning of the current year until now. According to the designated schedule, the company has also started delivering the first phase of its project, Paragon 1, in the Financial District of the New Administrative Capital.
Engineer Badir Rizk, the company’s CEO, stated that the company’s primary goal and strategy is to make a clear mark in real estate development in Egypt, in the real estate market, to enhance its presence in the market. He explained that 80% of the company’s sales were made outside the country, reflecting the company’s strategic direction targeting foreigners and expatriates.
He pointed out that these sales represent a significant step towards exporting real estate and supporting real estate investment opportunities in the Administrative Capital, which is one of the giant national projects that bear witness to the efforts of the Egyptian state towards urban development and its vision for sustainable development within the framework of Egypt Vision 2023.
Furthermore, he mentioned that the excavation and replacement works for “Paragon 2” project have been completed by 100%, and 80% of the foundation works have been finished. Additionally, the concrete structure of the building has been completed. Moreover, the excavation and replacement work for the Paragon 3 building has been finished, with 100% completion of the concrete foundations and basement works.
