Paragon Developments has launched its first project, Capstone Cliff Residence, with investments worth EGP 1.75 bn, on January 11 in a lavish event held in Marriott Mena House, west Cairo.

Located in the heart of Sheikh Zayed and situated 220 meters above sea level, the residential project features “breathtaking views from the peak of Cairo and an unmatched breeze,” according to the developer’s Facebook page.

Mohamed Wageh, chairman of Paragon, said, “This project represents the first of the company’s projects and is being designed by a number of well-known consulting offices inside and outside Egypt.”

Egypt-based Sabbour Consulting and UDAAR for Engineering, Consultancy, and Technology Solutions will be responsible for the architecture and design of the project.

The compound is located minutes away from main spots such as Hyper One, Cairo University, Americana Plaza, Arkan Plaza, Nile University, Zayed Center Park, and Zayed Hospital.

It is being built over 22 acres and is set to comprise varying models of housing units, including residential, superior residential, and Quadro apartments, as well as standalone villas and twin villas.

It also comprises green areas and a number of facilities and amenities such as a clubhouse, commercial strip, and school.

Mohamed Abdel Mordy, head of commercial sector at Paragon, said that the project comprises 600 units varies between residential units and villas, pointing out that the company provides payment plans that suit all customers’ purchasing power.

Clients attending the event, which saw unprecedented attendance, were offered exclusive packages and prices. Hence, the launch phase had been fully sold out, with the upcoming phase expected to be launched very soon.

According to Abdel Mordy, the project’s built up area is 30% and the remaining area is being allocated for landscape, adding that the project is planned to be delivered by mid-2021.

Paragon Developments is a subsidiary of RCH, a holding company with a construction track record since 1988 as well as a solid reputation in quality and delivery.