New Generation Development has achieved sales worth EGP 500 mn in the Botanica project in the New Administrative Capital (NAC), within only a month and a half since its launch, Invest-Gate reports.

In this context, Ahmed Selim, CEO of New Generation Development, says that the project is built on an area of 23 acres in the NAC’s R7 district, and comprises 1,000 housing units of various sizes, in addition to a commercial mall and fully finished serviced units.

He stresses that the project is characterized by competitive elements that make it able to reach target customers, as the Botanica compound offers flexible payment plans that suit purchasing power of many customers.

Furthermore, New Generation has signed a partnership contract with the Egyptian Foreign Affairs Ministry to develop the Botanica compound, he notes, pointing out that it is planned to market the project in three sales phases. Besides, the company intends to complete these phases in a record time due to strong demand for the project.

He remarks that despite the harsh competition among the projects in NAC, clients now can differentiate between existing projects and their offers then choose among them according to his needs in the unit and the entire project, disclosing that the opening of NAC’s first phase would contribute strongly to boosting sales of all real estate companies developing projects in the city.