News provided by Mercon Developments 

Mercon Developments announces the completion of  G7 projects drilling and assures its plan is 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,” Vice Chairman Ahmed Embaby says.

He adds that the commercial areas start from 47 m, the medical and administrative units start from 66 m, and will be completely finished. It is planned to deliver the project to clients in 2024, pointing that New Cairo is one of the cities that witnessed a strong demand from clients on the commercial and administrative areas, especially due to its proximity to the New Administrative Capital.

Mercon acquires EFS MISR, a subsidiary of EFS Global specialized in the management of integrated facilities in Egypt, to manage and operate the project. EFS Global 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.

Embaby assures that speeding up implementation rates 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 materials. “Due to the company’s financial solvency and technical expertise, we seek to implement the project as soon as the required timetable with the highest quality standards,” he confirms.

He points out that real estate remains a safe haven for investment, especially during periods of economic challenges, as it gives a high return on investment. 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, praising all the governmental facilities and support provided to support the real estate market during challenge times.