Egypt’s El Attal Holding launched on February 20 its latest project, Park Lane Compoundhood, in the New Administrative Capital (NAC), Invest-Gate reports.
Valued at total investments worth EGP 4 bn, the project spans across 26 acres in the NAC’s R7 residential district and is strategically located opposite to the Swedish and British universities, as well as, the Diplomatic District.
Ahmed El Attal, the company’s chairman, said that Park Lane Compoundhood offers a new and different concept of housing in the Egyptian market, while aiming to create various residential communities with a new vision based on the company’s experience of over 70 years in the various fields of contracting, construction, and design for a number of government and diplomatic bodies, schools, hotels, and tourist villages in Egypt, GCC, and East Asia.
El Attal pointed out that the project comprises 1,100 residential units with different modules such as studios, duplexes, and penthouses to meet all clients’ needs.
Scheduled for completion in two and a half years, Park Lane Compoundhood is being developed over three phases, El Attal added, confirming that units of the project’s first phase start at EGP 10 bn, with 7% down payment and installment plan of up to eight years with no interest rate.
Park Lane Compoundhood is characterized by its European-style designs, while reflecting the classical Egyptian architecture in the units’ distinctive colors, which are guaranteed to not be affected by climate changes, he elaborated.
The chairman noted that his company chose to launch its newest residential project at NAC out of its belief in the importance of this mega national project and its economic feasibility, as well as, its confidence in the state’s strategic plan of creating sustainable urban communities.
Talking of future plans, El Attal revealed that the company will develop a tourism project in New Alamein city during the second half of 2020, which will stretch over an area of 50 acres with estimated investments of EGP 5 bn, while planning for another tourism project in Ain Sokhna with initial investments valued at EGP 3 bn.
