Nile Developments announces commencing the digging works of the “31North” project, the highest skyscraper overlooks the Green River and Mohammed bin Zayed axis, in the downtown area, in the New Administrative Capital (NAC), Invest- Gate reports.
This comes along with the state’s strategy to boost the development pace of NAC, in addition, the company’s strategy is based on presenting a unique model of urban development by creating an innovative model that adds to the market.
The “31 North” project is the company’s first project in NAC, with investments of EGP 4.5 bn. It spans over an area of more than 18,000 sqm, with a 100-m main facade in the downtown tourist towers area.
Additionally, the tower consists of 36 floors with a height of 131 m and includes commercial units (shops, restaurants, and cafes), administrative offices, medical clinics, and hotel apartments, in addition to various facilities for customers service.
In this regard, Mohammed Taher, chairman of Nile Developments, states that the company’s management pays a great deal of attention to execute the project according to the highest quality standards and by using the recent technologies. Accordingly, the company has decided to accelerate the implementation pace of the project and start the digging works once the land is received.
In the same context, Mahmoud Taher, vice chairman and CEO of the company, confirms that the company seeks to present a unique model of the mixed-use towers in NAC by selecting the best company in each field. He notes that Salama Structural Engineering office (SSE) is selected for the design, the Hany Saad Innovations office (HSI) is chosen for the interior designs, Contrack FM (CFM), a subsidiary of Orascom Construction, is contracted to manage the project’s infrastructure, in addition, the company seeks to contract with an international management company to guarantee to execute the project at the highest level.
For his part, Karim Abdeen, director of the sales department of the company, comments that the company has succeeded in achieving 40% of the project’s total sales in just 4 months, in favor of clients of different nationalities, mentioning that it was planned to offer 33% of the project’s first phase for sale, but because of the high demand, the reservation period was extended to hit 40% sales.
This was announced in a press conference held at the project’s site in NAC, in the presence of Mohamed Taher, chairman of Nile Developments, Mahmoud Taher, vice chairman and CEO of the company, Karim Abdeen, director of the sales department of the company, in addition to a group of media and newspaper representatives.
It is noteworthy that Nile Developments owns a huge portfolio of projects that exceeds 100 projects in New Cairo, and more than 35% of them were delivered.