TOREC Developments has unveiled an extensive expansion strategy for the Egyptian market in the upcoming period, serving as the development and marketing entity for the New Urban Communities Authority (NUCA), Invest-Gate reports.

Mohamed Anwar Hilal, the CEO of TOREC Developments, outlined the company’s objective of broadening its presence in the real estate sector, currently in negotiations for two land parcels in the Green Belt area of West Cairo.

Moreover, TOREC is actively engaged in the development of three distinct projects encompassing commercial, administrative, and fully integrated urban developments.

Hilal emphasized that TOREC Developments has been actively promoting distinguished projects for NUCA since its inception, successfully marketing units owned by the authority as “in-kind shares” in major ventures.

Among the notable projects currently being marketed by TOREC Developments for NUCA is the Saba Residence compound, situated along the Boulevard Axis in the northern expansions on the Central Ring Road of 6th of October City. This compound comprises 85 buildings housing a total of 2,040 units, divided into three sales phases, with the initial phase offering 600 units.

Spanning an area of 69 feddans, the Saba Residence project features four service areas, green spaces, and a children’s play zone. The compound is enclosed by walls and gates, with buildings consisting of a ground level and five additional repeated floors.

The first phase of units was open for reservation from September 22 to October 3, 2024, with a 15% down payment requirement and installment plans extending up to 7 years. Anticipated sales from this NUCA project are expected to surpass EGP 9 bn.