Capital Link Developments launches its new project in the New Administrative Capital (NAC), Invest-Gate reports.

Ashraf Badea, chairman of Capital Link Developments, says: “the new project is located in New Capital’s R8 area with targeted sales worth approximately EGP 2.5bn.”

Badea adds that the project includes many competitive advantages that make it a unique and distinctive project, starting with the project’s location, features, and many distinguished services, in addition to its payment plans.

Moreover, the company provides flexible payment systems that have been studied in line with property price developments and purchasing power of customers.

For his part, Ali Gaber, CCO at Capital Link Developments, states: “launching the new project comes within the company’s plan to expand the development of housing projects and achieve diversification in its investment portfolio.”

“This project is also characterized as being the first project that is launched following the implementation of the company’s commercial sector restructuring plan,” he elaborates.

Additionally, Capital Link will receive the project’s land next month, and construction works will begin once necessary licenses are obtained with self-financing, as accelerating construction rates reduce risks resulting from high prices of building materials.

“The company has an expansion plan in the coming period that focuses on expanding in NAC and Sahl Hasheesh city in order to develop a tourist housing project that achieves diversity in the company’s project portfolio. Besides, meeting the needs of customers for second home,” Gaber adds.

The company’s total projects portfolio comprises four projects in NAC that vary between commercial, administrative and medical projects, namely Solano, Dorado, Verona and Laval projects. Building permits are obtained for three projects, and construction process of two projects begins, as part of its plan to maintain timetable for implementation and delivery, according to CCO.