Maqam for Urban Development is gearing up to launch its first project in the New Administrative Capital (NAC) as part of its plan to execute a diverse portfolio of projects in the Egyptian real estate market, Invest-Gate reports.

For his part, Sherif Salem, Chairman of Maqam, stated that the NAC is a promising national and investment project, offering an attractive environment for local and foreign investors.

Salem explained that the company was established in 2021 and conducted all necessary market studies before the launch of this project. The NAC, specifically the Downtown area, was selected as the project’s location because of being the NAC’s heart, having a high demand, and has the potential to achieve the highest return on investment for the company and clients.

He affirmed that the company plans to expand within the NAC and beyond, executing multiple projects, pointing out that his financial and managerial experience in senior financial and administrative positions within major real estate and industrial companies supports his plan to execute diverse projects in the NAC and other areas.

Salem emphasized the significance of balancing sales revenue and self-financing in project execution, especially considering the rising costs of construction materials, adding that this ensures that the company adheres to designated timelines for execution and delivery, aiming to become one of the leading companies in record time.