Al Taamir for Real Estate Development – TOREC DEVELOPMENTS, one of the companies affiliated with the New Urban Communities Authority (NUCA), has reaffirmed its commitment to its clients by starting the handover of units at the “SABA” project in October, Invest-Gate reports.

The company is responsible for the development, management, and marketing of the project, which is owned by NUCA and located in one of the most prime areas of 6th of October City.

The rapid execution of the “SABA” project and the commencement of unit deliveries reflect TOREC’s professional management approach, as the company closely monitors construction progress and motivates contractors to accelerate completion rates.

Eng. Mohamed Anwar, CEO of Al Taamir for Real Estate Development – TOREC, stated that the company is keen on closely supervising construction quality and ensuring full compliance with specifications, in order to deliver units on schedule and in line with contractual standards. He emphasized that TOREC is committed to developing high-quality real estate projects that meet customers’ needs and aspirations, while also achieving attractive investment returns.

“SABA Residence” compound is located on the Boulevard in the Northern Extensions along the Middle Ring Road in 6th of October City. The project comprises 85 residential buildings with a total of 2,040 units, and its sales were launched in three phases.

The compound spans 69 feddans and features four service zones, green areas, a children’s playground, and is fully gated with surrounding walls and controlled entrances. The buildings consist of a ground floor plus five typical floors, and are equipped with elevators.

The project witnessed strong demand upon launch, with all units in each phase being fully reserved within hours.

Al Taamir for Real Estate Development – TOREC DEVELOPMENTS was established in 2015 under the name “Al Taamir for Real Estate Development – Al Oula,” with a shareholder structure comprising the New Urban Communities Authority, Al Oula Mortgage Finance Company, MIDBANK, the Holding Company for Investment and Development, Misr Insurance, and Misr Life Insurance. The company was founded with a paid-in capital of EGP 5 million, which was shortly increased to EGP 50 million, and then to EGP 124 million in 2018.