Hometown Developments announced its collaboration with 50 international brands specialized in the fields of fashion, restaurants, and entertainment for its three projects at the New Administrative Capital (NAC), Invest-Gate reports.
Diaa El-Din Farag, Chairman of Hometown Developments, expressed his enthusiasm for the NAC, describing it as a promising national project with unique investment advantages in Egypt and worldwide. He affirmed that contracting with the most prominent brands enhances the investment value of the company’s projects.
Farag revealed that the concrete works for Zaha Park have been completed. He explained that the company’s first project is located in the MU23 area and consists of 10 floors.
Furthermore, Hometown Developments has completed approximately 60% of the Lafayette Mall, an entertainment destination located in the downtown area. The company has also recorded significant construction progress in the Udora Mall New Capital.
For his part, Mohamed Gamgoum, CEO of Hometown Developments, said that the company’s unique approach to real estate development allows them to leave a distinct architectural and investment mark in the New Capital.
Gamgoum highlighted the importance of Hometown’s flexibility, which enabled the company to implement its ambitious plans despite the global economic challenges that affect local markets.
Gamgoum added that the strong financial position of Hometown Developments, amounting to approximately EGP 5 bn, is allocated for ongoing projects and an additional EGP 10 bn for projects currently under consideration.
Mohamed Sakr, Head of the company’s Financial Sector, emphasized the need for careful analysis of the ongoing economic changes in the real estate market.
Sakr further stated that Hometown’s financial department is actively working on developing flexible payment plans that align with the purchasing capabilities of its customers. He mentioned that launching new brands confirms the company’s comprehensive plans to work in the local market with international standards.
Dalia Kurdi, Hometown’s Commercial and Marketing Consultant, highlighted the company’s commitment to credibility and proactive engagement with the latest trends in the real estate market.
Moreover, the company has succeeded in attracting more than 50 international brands including brands in fashion, namely Bebe and Forever 21, BCBGMAXAZRIA, Bags Factory, Desigual, Gerry Weber, Bridal Dreams Store, Eden Park, Marina Rinaldi, Menbur, Promod, Pronovias, Women’s Secret, BSB and Lipsy.
The company was also keen to attract the largest international restaurants such as Meats & Bread, Ponderosa and Steakhouse, while contracts were also signed with the world’s largest cinemas, Premiere Cinemas, in addition to the largest cosmetic brands such as Wissam Sargi, she added.
Kurdi explained that attracting this large and distinguished number of brands will achieve a boom in New Capital’s Downtown area in which the company’s projects are located, and will achieve the highest investment return for customers.
