Anchor Developments has unveiled its latest venture, “La Passage d’Anchor,” in the New Administrative Capital (NAC), marking its third project in the city, Invest-Gate reports.

The company achieved remarkable success by selling over 45% of the project on its launch day, underscoring the development’s exceptional qualities and the trust customers place in Anchor Developments.

Hazem Ali, the CEO and Managing Director of Anchor Developments, expressed the company’s confidence in the NAC, characterizing it as a groundbreaking project that garners the trust and interest of both local and international investors. Ali highlighted the NAC’s rising development rates and occupancy following the government’s relocation of ministerial headquarters to the city.

“La Passage d’Anchor” is strategically positioned in the Investors’ district, specifically within the primary offering area in the administrative capital along the southern Mohammed bin Zayed axis. This location, one of NAC’s key thoroughfares, underscores Anchor Developments’ commitment to selecting exceptional sites that ensure optimal returns for customers.

Ali emphasized that the project’s architectural design, imbued with a French aesthetic, was crafted in collaboration with Medad Consultant Engineers. Anchor Developments consistently partners with reputable entities to achieve a harmonious blend of visual appeal and operational functionality in its projects.

Reyad Mokhtar, Head of Sales and Operations at Anchor Developments, highlighted the record-breaking sales achieved on the project’s launch day. Noteworthy for its commercial, administrative, and medical components, “La Passage d’Anchor” boasts a 245-m frontage along the southern Mohammed bin Zayed axis, comprising a ground floor, two repeated floors, and a garage, with a project loading rate of 29%.

Mokhtar also revealed the success of marketing efforts for the “Metropole” project in the NAC, with approximately 50% of units sold and project implementation already underway.

In the pipeline, the company plans to introduce special promotions with the launch of the second phase of the “Rue De Rivoli” project. Additionally, Anchor Developments is evaluating offers from foreign firms and banks for independent structures within the “La Passage d’Anchor” and “Metropole” projects.

Ahmed Moustafa, a development consultant at Anchor Developments, noted progress on the “Rue De Rivoli” project, a strip mall initiative spanning 10,815 sqm. Construction, utilizing only 30% of the land area, is underway in the Investors District of the NAC, featuring a ground floor and two levels dedicated to commercial and administrative use.