City Edge Developments (CED) announced the launch of New Alamein Downtown, a project owned by the New Urban Communities Authority (NUCA), Invest-Gate reports.

The launch of the Downtown follows the successful sale of over 1,000 units in New Alamein in 2019 for an amount exceeding EGP 6.5 bn, aiming to meet the rising demand for units in the new city, according to a press release on September 23.

To be delivered during 2020, this project is master-planned as a modern apartment building complex to complement the towers and residential villas in the city.

The company’s CEO Amr El Kady said, “The launch of New Alamein Downtown should meet demand by customers who are looking for medium-rise apartment buildings and represents a good diversification of our portfolio of products.”

“The overwhelming response to the launch of The Gate and Mazarine is a clear testament to customer confidence in our offerings and a sign of the positive growth being recorded in the market this year,” he said.

Located at the heart of New Alamein, the complex lies a 15-minute walk from the beach, eight minutes away from the hospital, and 3.5 kilometers away from the universities, with close proximity to the monorail and the Old Town area.

Downtown Alamein comprises residential buildings that include a mix of units ranging from penthouses to ground floor apartments with private gardens of all sizes. The new project will house a diverse number of amenities centered around beautifully designed plazas with commercial and lifestyle facilities for the residences including large public green spaces, which come in line with the new city’s vision of providing a 14 square meters of green areas for every resident instead of the global standard of nine square meters.

El Kady added, “We remain committed to the hand-over of the projects as per contractual schedules. In fact, both Mazarine and The Gate, which were launched in July this year as well as North Edge Towers are progressing rapidly.”