Atef Manay, a member of the Board of Directors of NCB Developments, has affirmed that the company has successfully established a strong presence in the real estate development sector, with investments exceeding EGP 10 bn, Invest-Gate reports.

Manay stated that the company currently possesses three significant projects, all of which were launched within a single year since the company’s establishment and entry into the Egyptian real estate market in mid-2022.

Providing further details, Manay explained that the company’s latest venture, Valencia, is a fully-serviced residential compound spread across 12 and a half acres in the heart of the Fifth Settlement in the Andalus region. The project boasts an investment volume surpassing EGP 5 bn.

It encompasses a commercial and administrative mall, a medical facility, a clubhouse, 15 ground buildings, and five recurring floors. Remarkably, only 21% of the project consists of buildings, while the rest features lush green spaces, playgrounds, lakes, and swimming pools. Valencia offers a diverse range of residential units, including ground floor with gardens, regular apartments, villas, penthouses, and rooftop units.

Manay revealed that over 50% of the first phase, which was introduced in mid-June, has already been sold due to the high demand for the project. This swift sales progress has prompted an accelerated plan to sell subsequent phases of the project.