The first phase of Udora by Hometown Developments at the New Administrative Capital (NAC) is currently sold out; the company plans to launch the second phase of the project soon, Invest-Gate reports.
Hometown’s Chairman Diaa Farag states that the Udora project has witnessed a great demand since its launch in mid-August due to its prime location in front of Almasa Hotel in Downtown, in addition to the variety of units areas starting from 30 sqm.
Udora Mall is the company’s fourth project in NAC. The project is a commercial mall located on 13,700 sqm and consists of six commercial floors as well as basement floors dedicated to parking, Farag explains.
In a parallel context, he notes that Hometown’s investment plan includes directing investments worth EGP 500m into its four projects in NAC during the current year, as part of the company’s plan to adhere to the construction and delivery schedule according to the dates specified in contracts.
Additionally, Farag comments,”The company has recorded strong construction rates in its projects in NAC depending on the facilitation of procedures and flexibility offered by the Administrative Capital for Urban Development company (NUDA), along with working according to a specific plan to speed up construction rates.”
Regarding the Zaha Park project, the company’s first project in NAC, he discloses that the construction rate has reached more than 50% and concrete works have been completed. Hometown Developments has started in electromechanical works. The project will be delivered by the end of 2022.
Zaha Park is an administrative, commercial 10-storey project and is located on an area of 7200 sqm in MU23, he points out.
As for the Lafayette project, he reveals that the company has begun construction on and concrete works are underway. The mall is a commercial entertainment project on an area of 43,000 sqm.
Concerning the Village mall, he explains that it is a commercial building dedicated to restaurants and cafes in Downtown, spanning over 22,000 sqm. The mall encompasses a ground floor and five floors and includes a complex for the largest cinema halls in Egypt.