Chairman of IHD Developments, Hossam Al-Akshar, and other top executives witness laying groundworks for the VIVID Business Tower project in the Down Town district in the NAC, Invest-Gate reports.

Al-Akshar reveals that the project includes a ground floor and 14 other commercial and administrative floors with investments of around EGP 700 mn.

From the ground to the second floor will be used for commercial purposes, Al-Akshar notes, adding that the remainder will be used for administrative purposes.

For his part, Mohamed El-Dweiny, the company’s Chief Commercial Officer, says that 80% of the project has been marketed and marketing of the final phase is underway.

El-Dweiny adds that his company signed contracts with major consultancies in the market to execute the project, on top of which IVC.

He unveils that IHD Developments is planning preparations for its new project, which will be a residential compound in NAC.

It will feature green spaces and full technological control of all units and services at the project, El Dweiny remarks.