Namaa for Development and Real Estate Investment has announced the launch of its latest projects in the New Administrative Capital (NAC), Capital One, which is slated to be the largest administrative complex in NAC’s Central Business District (CBD).
The project’s launch came on April 14 during the company’s celebration of its 20-year journey in the Egyptian market at Salah El Din Citadel. The event was attended by Tourism Minister Rania Al-Mashat, Namaa Chairman Samer Sallam, in addition to a number of key businessmen and journalists.
The celebration was crowned by a remarkable performance of the legendary composer Omar Khairat.
Speaking of the launch, Sallam noted, “During the past 20 years, we have contributed significantly to the development of the Egyptian economy, offering more than 20,000 jobs to the local market and attracting foreign direct investments to Egypt.”
“We have established more than 30 companies in various business sectors, starting with Shaher Trading Company established in 1939, which was the largest retail consumer finance company at the time, and then expanded our business to include manufacturing and innovation. In 1997, Olympic Group, an affiliate, launched the first public offering on the Egyptian Exchange (EGX) to the private sector in Egypt,” he added.
Meanwhile, Managing Director of Namaa Emad Al Nattar said, “In the first decade of the 20th century, the company expanded into the field of development and management of administrative areas, through the acquisition of a land plot in east Cairo. Namaa managed to develop, lease, and manage buildings of the largest international companies in Egypt, such as Lafarge Holcim, MetLife Insurance, Nestle, General Electric, Johnson & Johnson, amongst others.”
On his part, Namaa Business Development Director Karim Morsi expressed his pride in the launch of Capital One, which will be developed across a total area of 86,000 square meters. “It is the first integrated business complex to be introduced to NAC, aiming to accommodate the various companies operating in Egypt,” he explained.
Capital One’s administrative spaces will be offered for sale with areas starting from 100 square meters. The project is expected to receive the US “LEED” certification, which ensures the efficiency of its energy management system and reduces operating expenses.
It is worth noting that Namaa is cooperating with the world’s largest engineering and design consulting firms to design Capital One, in line with the latest international standards.