Ahmed Fekry, Chairman of Contact Developments, has announced the launch of the second phase of the Eval project, which marks the company’s fourth venture in the New Administrative Capital (NAC), Invest-Gate reports.

Fekry further highlighted that Contact Developments is currently developing a total of five projects within the NAC.

Notably, the Eval Tower project is strategically situated near the capital’s gates, offering a direct view of Mohamed Bin Zayed South Axis. The project comprises two towers, one administrative and one hotel tower, both spanning 18 floors. The estimated investment volume for the project amounts to approximately EGP 5 bn.

In terms of sales targets, the Eval Tower project aims to generate around EGP 8 bn in sales. Fekry emphasized that the company has taken proactive measures to address the reduction in price increases, as directed by the state, and to meet the customers’ expectations for lower prices.

As part of these efforts, the second phase of the Eval project is being launched with exclusive offers, including a 20% discount on all units and flexible payment plans of up to 10 years.

Regarding the Eval project, Fekry mentioned that it comprises a total of 39 commercial units and 168 administrative units, with areas starting from 35 sqm.

Fekry also reassured customers that construction progress in the company’s projects is proceeding smoothly and at an accelerated pace, ensuring customer confidence and adherence to the agreed-upon delivery dates. The completion rate for the Mercury project has reached 70%, and the company is on track to deliver 280 units in the Mercury Mall project by the end of this year, in line with the agreed-upon timelines with the customers.