Egypt-based IC Group has announced plans to launch a one-of-a-kind mixed-use complex in the New Administrative Capital (NAC), called “the office,” with investments estimated at EGP 900 mn, Invest-Gate reports.
Nestled within NAC’s financial district, IC Group’s newest project will be developed over 8,200 square meters, offering 270 office spaces that are fully equipped with integrated services and suite offices, along with an array of commercial and medical units, Ahmed Sherif, head of the company’s commercial sector, confirmed in a press release on October 1.
The seven-story building will also comprise several meeting rooms, reception areas for visitors, restrooms, and many others. To ensure the provision of first-rate services, IC Group has contracted with one of the leading international companies, specialized in managing and operating global business centers, for the project’s property management, he further stated, without further elaboration on details.
Potential customers are provided with payment plans of up to six years, in addition to a 10% down payment, when purchasing any unit at “the office,” which comes after years of well-thought-of research and studies on the current market demand and conditions, aiming to cater to all tastes and needs, Sherif noted, stressing that company targets EGP 1.2 bn in contractual sales of the project.
Back in 2019, IC Group had rolled out the Souq El Dahab (Gold Market) project in NAC, covering an area of 8,300 square meters. The new development targets high-end local and international brands in the gold and diamond field, which will include 120 properties with various areas, while unit prices range from EGP 40,000 to EGP 80,000 per square meter. So far, over 80% of the marketplace has been sold out, Sherif confirmed.