with Investments of 10 Billion EGP, New Event announces the launch of their latest project
New Event Development has announced its new project in the New Administrative Capital, Qamari, with investments of 10 billion Egyptian pounds. The project is a strong addition and is located in a distinguished location in the R8 area.
Dr. Hamid Al-Rajawi, Chairman of the Board of Directors of New Event Development, emphasized that the New Administrative Capital has become a vital investment destination for all local and foreign investors, especially in light of the huge development that has taken place in the city over the past years. He noted that the company succeeded in seizing a strong and distinctive investment opportunity, and it is planned to implement an innovative and unconventional project that matches the distinguished location of the project.
Qamari is located on 25 acres, and the project is distinguished in front of the diplomatic district between a number of main axes near the services area in the R8 region from clubs, schools, and universities. The project includes a package of distinctive services to provide a fully serviced residential project with facilities that guarantee residents a stay that includes the elements of comfort, luxury, and quality of life.
The project includes swimming pools, a shopping mall, green spaces, sports fields, a medical center, a social club, a Gathering Area, a BBQ Area, and a jogging track. It also includes residential buildings with a ground floor and seven floors and is scheduled to be delivered within four years.
Al-Rajawi noted that the project will consider technological developments in all its details to provide customers with a comfortable and luxurious life and a distinctive quality of life. This is in line with global developments in the field of real estate development, where the application of smart standards in management and operation is taken into account to provide an easy and simple life for customers and to keep pace with global technological developments.
He pointed out that the YBA-Yasser Al-Beltagi Engineering Consulting Office was hired to be the engineering office responsible for designing the project and hiring the Archrete Office. These are prominent names in engineering consulting, as the company is keen to cooperate with strong entities to implement a project that matches the company’s name and previous work.
Al-Rajawi said that work on the project will begin as soon as the licenses are obtained, and it is planned to pump investments of 500 million Egyptian pounds in the project’s construction during the current year.
He pointed out that the company owns two distinctive projects in the New Administrative Capital, and it has succeeded in reaching high implementation rates in them. The company is pumping huge investments to raise implementation rates in parallel with working on acquiring new projects, as commitment to customers is a cornerstone of the company’s work axes, which enhances customer confidence in it and its credibility in the real estate market.
He added that the company owns two projects in Downtown, and the first project, H MALL, is a distinctive project located in the Downtown area of the New Administrative Capital and overlooks the Central Park in the New Administrative Capital. It is located on an area of 4500 meters with a height of 12 floors and includes commercial and administrative activities, 4 floors of underground garages and warehouses, and the unit areas start from 32 meters to 2000 meters.
As for the second project, the 𝐓𝐫𝐚𝐯𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐦𝐩𝐥𝐞𝐱 project is a shopping mall overlooking the downtown central park and a main axis street with a width of 70 meters, and in front of the pharmaceutical company on an area of 4500 square meters and consists of 13 floors distributed over administrative and commercial units.
Al-Rajawi pointed out that the company relies on self-financing in addition to marketing revenues to implement its projects, and the company is currently not considering bank borrowing. He explained that the company’s total investments in the real estate market currently exceed 15 billion Egyptian pounds, and it is planned that the company’s investments will exceed 25 billion Egyptian pounds by the end of the current year.
He confirmed that the company plans to pump huge investments in construction in its existing projects during the current year, in order to raise construction rates in its projects, commit to its customers, and enhance their confidence in it. He explained that the volume of achievements in the H MALL project reached 40% of the concrete work.
Al-Rajawi pointed out that the company has begun excavation work in the 𝐓𝐫𝐚𝐯𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐦𝐩𝐥𝐞𝐱 project and will work at the same previous pace to achieve the main goal, which is to satisfy the company’s customers.
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