SUD be­gins im­ple­men­ta­tion of EGP 3bn Cap­i­tal Heights 1 in New Ad­min­is­tra­tive Cap­i­tal

Com­pany ex­pects to mar­ket 1,000 units of Cap­i­tal Heights 2 project this year, says mar­ket­ing head

The Daily News Egypt - - Business -

Safwa for Ur­ban De­vel­op­ment (SUD) has be­gun the con­struc­tion works of Cap­i­tal Heights 1 project in the New Ad­min­is­tra­tive Cap­i­tal over 50 fed­dans, ac­cord­ing to Ahmed Na­bil, head of mar­ket­ing.

Na­bil said that the project’s in­vest­ments reached EGP 3bn and it in­cludes 2,100 units.

Na­bil re­vealed that his com­pany has paid up 20% of the land value to the Ad­min­is­tra­tive Cap­i­tal for Ur­ban De­vel­op­ment (ACUD), which is the state-run owner of the cap­i­tal.

Na­bil pointed out that the com­pany has ac­quired new land within the New Ad­min­is­tra­tive Cap­i­tal for the im­ple­men­ta­tion of four com­mer­cial-ad­min­is­tra­tive tow­ers within the city’s banks zone.

He noted that these four tow­ers will be launched and mar­keted dur­ing the sec­ond half of this year.

The com­pany has launched its sec­ond project at the cap­i­tal, Cap­i­tal Heights2, which will be built on 250,000 sqm.

“The project is an in­te­grated res­i­den­tial project with unit sizes rang­ing be­tween 130 sqm and 270 sqm,” Na­bil said. “The Cap­i­tal Heights 2 con­trac­tual sales are ex­pected to reach EGP 1bn within the cur­rent year.”

He added that the project’s in­vest­ments reach EGP 3.5bn, ex­pect­ing to mar­ket 1,000 units of the sec­ond project in the cur­rent year.

He high­lighted the boom of the real es­tate mar­ket and high de­mand, which en­cour­age in­vestors to pump more in­vest­ments and par­tic­i­pate strongly in the im­ple­men­ta­tion of the state de­vel­op­ment plan. Na­bil said he ex­pects mar­ket ac­tiv­ity to con­tinue dur­ing the cur­rent year and price in­creases of about 25%.

THE COM­PANY HAS PAID UP 20% OF THE LAND VALUE TO THE AD­MIN­IS­TRA­TIVE CAP­I­TAL

FOR UR­BAN DE­VEL­OP­MENT

Four com­mer­cial-ad­min­is­tra­tive tow­ers to be im­ple­mented

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