Paragon Developments Announces Successful Delivery of “Paragon 1” Project with EGP1 Bn Sales

Paragon Developments Announces Successful Delivery of “Paragon 1” Project with EGP1 Bn Sales

Paragon Developments, a leading real estate company, has announced the successful delivery of its “Paragon 1” project in the Financial District of the New Administrative Capital (NAC), Invest-Gate reports.

The company achieved this milestone within the agreed-upon timeframe stated in the contracts with its clients. The project’s timely completion highlights the company’s commitment to meeting delivery deadlines.

Moreover, the announcement took place at the headquarters of “Paragon 1,” where the company revealed the completion of the project’s first phase and allowed customers to inspect their units on-site, initiating the delivery process according to the contract dates.

Regarding the project’s sales, the company stated that 80% were made outside the country. This reflects the company’s strategic focus on targeting foreigners and expatriates, showcasing its commitment to exporting real estate.

In the same context, such initiatives support real estate investment opportunities in NAC, one of Egypt’s major national projects, symbolizing the Egyptian government’s efforts towards urban development and its vision for sustainable development as part of Egypt Vision 2023.

Furthermore, Bedeir Rizk, CEO of Paragon Developments, emphasized that the company’s primary goal and strategy aim to significantly contribute to real estate development in Egypt, enhancing its presence in the country and capitalizing on available investment opportunities.

This is evident in the company’s 2023 sales, which reached EGP1 bn. Rizk expressed his delight in delivering the company’s first integrated project. He highlighted that Paragon offers projects that provide the best technological solutions, focusing on smart and sustainable buildings that adhere to environmental standards.

Notably, regarding the company’s project updates, the excavation and replacement works for the “Paragon 2” project have been completed 100%, and 80% of the foundation works have been finalized.


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