Mazaya Developments begins constructions in its three projects in parallel in Downtown area at New Administrative Capital, as part of its plan to speed up construction rates and advance delivery and operation to maximize investment return for clients, Invest-Gate reports.

The company also plans to pump EGP 600 mn to speed up delivery.

Mohamed Allam, chairman of Mazaya Developments, states that the company owns 3 projects in New Capital’s Downtown with a total area of 7,800 sqm. The projects are THE ROOK, the company’s first project in the New Capital and it is located on an area of 2,800 sqm, in addition to Gemini Towers Red&Blue project, which includes Red and Blue projects, on an area of 2,500 sqm for each tower.

The Gemini Towers Red & Blue projects comprise administrative commercial properties and medical clinics, located in the Downtown area and overlooking the central axis and the strip of tourist towers. The project site links all main axes within the Downtown area as well as it is near Monorail station, gold market and central park besides it overlooking the Green River.

Allam points out that the project size is 2,400 sqm for each tower, and encompasses 300 units of various sizes. The project’s commercial units include cafes, restaurants and various retail activities, in addition to a fast-food restaurant area, with spaces ranging from 30 to 120 sqm. Moreover, administrative part of the project includes offices with different sizes suitable for all companies with spaces ranging from 36 to 90 sqm, in addition to medical clinics with distinctive spaces and location ensures easy access to them, with spaces range between 38 to 48 sqm.

However, the real estate developer is cooperating with one of the most prominent consulting offices in the project, the Arcrete Studio Design. The project’s investments reached approximately EGP 1.2 bn. The first project Red is planned to be delivered in June 2026, and the second project Blue in December 2026.

Allam notes that the company offers flexible and competitive payment plans with a down payment starting from 5% and a payment period of up to 10 years.

It is worth mentioning that the company has achieved 35% of the project’s sales in record time from its launch, which reflects the confidence in the company’s name and its success in constantly acquiring a new customer base.

“Mazaya Developments plans to invest EGP 600m in project construction, and will rely on self-financing and marketing proceeds to develop the project. The company’s total investments currently exceed EGP 2bn in its three projects. Additionally, the company aims to achieve EGP 1bn in sales by the end of 2022, which is the plan that is being implemented strongly,” Allam comments.

Further, the company has a marketing and development plan that integrates them to begin construction works on the company’s first projects three months ahead of schedule, and the second project about 9 months early.

Mohamed Mostafa, CEO of Mazaya Developments, states, “Despite strong competition in New Administrative Capital, especially in Downtown area, the company has succeeded since the launch of its projects in maintaining a strong reputation and constantly acquiring new customers in its projects, as the success of the first project supported the company’s plan to launch its second project.”