Capriole Group announces that it is the first developer to put up for sale its LINX project in the New Administrative Capital (NAC) upon the completion of 35% of constructions, Invest-Gate reports.

This comes even before the issuance of the presidential directive prohibiting the promotion of real estate projects with completion rates of less than 30%, according to the company’s press release.

In this regard, Chairperson of Capriole Group Mohamed Mufeed unveils that the company’s vision keeps pace with that of the state and President Abd El Fattah El Sisi, clarifying, “Capriole was desirous to expand in the Egyptian market since the early 2000s, but it delayed making a decision until 2014 when President Abd El Fattah El Sisi took office, owing to its staunch confidence in his own vision for development in Egypt.”

Mufeed adds, “The presidential directive demanding developers to build before putting up any project for sale will incentivize serious companies and will protect clients,” indicating that after offering the LINK complex for sale, reservation rates jumped to 50%.

It is worth highlighting that the EGP 1.5-bn LINX complex is a commercial administrative and medical one located in MU23 District in NAC and spans over an area of 7,635 sqm. It consists of 12 stories with two underground floors. The basement and the first floor are for 51 commercial units, and the second to the ninth floors are for 270 administrative and medical units.

The underground built-up area (garages) spreads over 22,500 sqm, whereas the on-the-surface built-up area spans 15,200 sqm. The administrative units vary between 48 to 2,300 sqm, constituting a wholesome floor.
Meanwhile, the commercial units and clinics start off at 27 sqm and 54 sqm, respectively. Moreover, fully finished administrative and medical units with air-conditioners are set to be delivered.

For his Part, Mahmoud Abd El Halim, chairperson of MREC taking charge of managing the commercial sector at Capriole Group and the marketing sector at LINX complex, comments that MREC has come up with a new system for marketing by providing clients with a real estate portfolio, the first of its kind, and refers to the purchase of a shop, a clinic, and an office at EGP 5.5 mn in a separate contract, with a down payment of EGP 300,000. Furthermore, Int’l codes have been observed while carrying out the project.

He further elaborates that spaces have been largely utilized to the maximum extent, as LINX is equipped with state-of-the-art services, such as the Integrated Security System, CCTV, BMU, FA, and BM, together with a waste management system, solar cells, and eight elevators.