Mercon Developments announces finishing the excavation works at G7 project in Fifth Assembly, among the company’s plan to adhere to implementation and delivery timetable, Invest-Gate reports.

G7 is a commercial, administrative, and medical project, located in a distinctive area in North 90 Street in New Cairo, and includes multiple activities units with variety in sizes, which meets the needs of targeted clients.

The commercial units starting with areas from 47 m, the medical and administrative units starting with areas from 66 m, and completely finished, and it is planned to deliver the project to clients in 2024

Ahmed Embaby, vice chairman of Mercon Developments, states that New Cairo is one of the cities that witnessed a strong demand from clients on the commercial and administrative areas, especially with its proximity to the New Administrative Capital.

Embaby adds that the company contracted EFS MISR company to manage and operate the project, which is a company subsidiary of EFS global specialized in the management of integrated facilities in Egypt, and has long experience and previous outstanding work in operating multi-uses projects, pointing that this step aims to maintain the project’s investment value.

He points out that speeding up rates of implementation is the best choice for all real estate and private companies that have strong financial solvency, so as to cope with the high implementation costs resulting from the high price of raw material.

Embaby further notes that property remains a safe haven for investment, especially during the economic challenges periods, as it gives a high return on investment, and the facilities provided by the State to support mortgage finance is regarded as one of the mechanisms that promote clients high appeal to buy properties whether for housing or investment.