EGICS Development plans to pump EGP 450 mn investments as a down payment in many real estate projects in Egypt, starting with its first project in NAC, Invest-Gate reports.

Ehab Abul-Hadid, CEO of EGICS Group, states, “This step is based on the company’s vision to diversify its investment portfolios in Egypt and worldwide.”

Abul-Hadid adds that EGICS has great experience in the real estate and contracting sector, not only in Egypt but also at Arab and African levels, as well as being an exclusive agent for more than 20 major industrial companies worldwide, such as Hyundai, Siemens, and Schneider Electric.

Furthermore, the company contributes to establishing and developing infrastructure in many new cities and governorates of Egypt, besides many major projects such as the development of Egyptian railways in 2013.

Abul-Hadid discloses that Haven Business Tower is a commercial, administrative, and hotel mall consisting of ground and 12 floors. The project is scheduled to be launched in a very special area of Downtown in NAC this month.

On the other hand, Abul-Hadid explains that the project has a strong competitive advantage in the market. Its construction cost will be much lower than any other project because EGICS produces ready-made concrete and many other materials.

EGICS assigns the strongest consultants to ensure the highest quality of services provided for the tower, so it contracts with Yasser Al Beltagy Architects, Sila Marketing and Sales Consulting, headed by Ahmed Al-Haddad, and MRB Company for Malls Management. Meanwhile, EGICS negotiates with Faisal French company for hotel management.