HMD announces the launch of its first projects in the New Administrative Capital, Golden View and Two Towers, with a total an estimate sales volume of EGP 900 mn, Invest-Gate reports.

HMD Chairman Dr. Ibrahim Abdel Dayem says, “We are proud to invest at the new capital… The estimated sales volume of the company’s first two projects in the new capital is about EGP 900 mn,” calling on potential clients, “Don’t miss our innovative and unprecedented product.”

He points out, “Within the next five years, we will see the capital in a different way and we are all proud of it.”

For his part, HMD CEO Abdullah Anwar says that the New Administrative Capital is witnessing an increasing demand on non-residential projects, whether administrative, commercial or medical, which encouraged the company to start its first projects in this type of investment.

He points out that the state is moving towards increasing the rates of urban development at the present time, and HMD chooses the administrative capital due to the wide infrastructure implemented by the state and the volume of investments directed to develop the administrative capital with international cities’ specifications.

He adds that the company relies on planned and well studied strategies in order to achieve the best growth rate in order to expand its activity in parallel to building a strong entity, to become one of the largest real estate development companies in Egypt.

He states that HMD is seeking to obtain licenses from the New Administrative Capital Company, stressing that the new capital is the state’s project, appreciating its volume of investments and the role of developers.

COO Sherif El-Ghazali reveals that the two projects are on the outskirts of downtown with its wide streets, giving both projects a distinguished element- its location.

He adds Two Towers is the first medical one in NAC’s downtown area, featuring height of a ground and 14 floors and next to a wide 2622 sqm- garden. Its units vary in size to cater to all needs. Administrative units range from 23 sqm up to 36 sqm, with
a price range from EGP 19,000 to 54,000/sqm, as for the medical units, the price is EGP 23,000/sqm.

El-Ghazali states that the company developed flexible payment terms that suits all clients as follows:

– 12% system and installments up to 6 years

– 15% system and installments up to 7 and a half years

– 20% system and installments up to 9 years.

– 30% system and installments up to 10 years.

– 40% system and installments over 11 years.

– Cash payers will get a 40% discount of the value of the unit price

Regarding Golden View, Al-Ghazali explains that it is located near “Dahab” district and overlooks the Mosque of Egypt
on a main street, and is distinguished by the parking lot next to it, adding that “the project fulfills the client’s desire to invest in a new way, as it is a commercial administrative and medical one of  a ground and 10 floors on an area of 2127 sqm,” he says.

Units at Golden View vary in size as well. Commercial units start from 15 sqm, while administrative and medical ones start from 36 sqm, with prices ranging from EGP 63,000 pounds up to EGP 99,000 for commercial units and EGP 18,000 up to EGP 23,000 for administrative and medical ones.

Sales is currently ongoing for the next six months for both phases. “We target sales contracts of EGP 350 mn within three months for the first phase and EGP400 mn for the second phase, as the development timetable of the two projects is within three years,” he claims.

HMD was established in an alliance that includes a group of the largest real estate development companies of experience and credibility, whose business spread widely in several Egyptian governorates, including Cairo, Alexandria, Sharqia, and others, in addition to a group of partners and investors with strong and diverse experiences in the fields of real estate investment and various business administration.