Amazon Developments obtains the required approvals for Capital Diamond Tower project in the central business district in the NAC by the Decennial liability insurance and the National Center for Housing and Building Research, Invest-Gate reports.
Capital Diamond Tower is the first and tallest Twisted Tower in Egypt and Africa with 180° rotation angle.
Hossam Abu Al Souod, chairman of Amazon Developments, says that the company started directly in the construction works of Capital Diamond Tower project the next day after obtaining the approvals from the Decennial liability. Moreover, the company develops a large number of real estate projects that provide guaranteed profit opportunities for investors.
Abu Al Souod adds that the company is keen to implement Capital Diamond Tower according to the approved time schedule or even ahead. The project is considered a starting point for the company in the Egyptian market. Amazon Developments also intends to develop a number of real estate projects in various areas of Egypt in the coming period in order to provide a different experience for the client and attract Arab investors to the Egyptian market, especially in major national projects.
For his part, Mahmoud Al Gharib, vice chairman and CEO of Amazon Developments, assures that the company aims to be a leading developer among more than 400 developers in the NAC. Additionally, Amazon Developments aims to develop 10 projects during the coming period in all major locations in Egypt, including East and West Cairo, the Red Sea Coast, and the North Coast.
Hisham El Samri, general manager of Amazon, says that the demand in the NAC trends to investment first rather than housing, while the 4G cities will see a significant increase in demand rates.
Mohamed Rahal, head of Amazon’s commercial sector, explains that the rise in production input prices is one of the most important challenges facing the Egyptian real estate market after overtaking the Corona pandemic.
Rahal states, “The coming period will witness huge offers from Amazon to all investors in Egypt and the Arab world.”