Arkan Palm for Real Estate Development, a subsidiary of Badr El-Din Group, has signed a contract with the Export Development Bank of Egypt (EBank) to construct the bank’s headquarters in the Financial District of Sheikh Zayed 205 Project, Invest-Gate reports.
Leadership officials from both sides attended the signing ceremony, which includes a commitment to complete the construction work within two years, while the bank is set to fully finish and outfit the building.
The 205 Project is a partnership between Arkan Palm for Real Estate Development and the New Urban Communities Authority (NUCA), covering an area of 205 acres in Sheikh Zayed. It is a mixed-use project that includes commercial, residential, administrative, entertainment, and hotel components.
The project will feature three hotels, operated by the International Hotels Group (IHG), and will include the tallest skyscrapers in Sheikh Zayed and West Cairo, standing at 135 meters above sea level, each comprising 40 stories.
1 km of the project’s southern side overlooks the “26th of July Axis,” while 1.2 km of the northern side faces Al Bostan Street, home to many renowned brands such as “Arkan” and “American Plaza.”
Currently, only 30% of the land is developed, with the remainder left open and green, featuring a 2-km-long river that elegantly separates the residential areas from the community and business zones.
“Arkan Palm is committed to signing contracts with major entities across various sectors to establish their presence in the heart of its distinguished 205 Project, offering a unique experience in integrated residential and service projects,” said Mamdouh Badr El-Din, Chairman of Arkan Palm.
Badr El-Din added that from the project’s inception, Arkan Palm has focused on implementing innovative products that provide integrated services beyond the residential aspect, including banks, clinics, company headquarters, and entertainment areas, all adhering to the highest standards of quality and sustainability to ensure client satisfaction.
Additionally, Amr Badr El-Din, Managing Director of Arkan Palm, stated that the company is achieving the highest construction standards in the 205 Project, racing against time to complete the entire project while inaugurating several mega projects within it.
Badr El-Din emphasized that the 205 Project is the largest downtown area in West Cairo, featuring numerous community service districts, including the Financial District, which will serve as the central hub for major financial entities in the region.
Ahmed Galal, Chairman of EBank, expressed the bank’s eagerness to establish a new headquarters in the Sheikh Zayed 205 Project, following its successful experience with Badr El-Din Group, as one of the bank’s branches is located in Arkan Plaza in the Sheikh Zayed area.
Galal praised the innovative and well-planned design of the Financial District within the 205 Project, noting that Arkan Palm paid close attention to detail to create a unique product that adds value to the real estate sector and meets the needs of investors and companies.
He elaborated that EBank currently operates 45 branches nationwide and is keen to expand in West Cairo, where significant opportunities and strong predictions for growing investments exist in the near future.