Prime Developments intends to launch two new projects this month in the NAC and Hurghada, within the company’s expansion plan in the real estate market, Invest-Gate reports.

Nathan Yaqoub, chairman of Prime Developments, says that the company has an ambitious expansion plan based on its strong precedent. Further, the launching of these two projects together proves the strength of the company’s financial position and meets its customers’ needs.

Yaqoub clarifies that the company commenced its work in the Red Sea, specifically in Hurghada in 2008, and launched several distinctive projects in various areas such as Arabia, Al Kawthar, Ahyaa, and the last project was View Aqua. All these projects were implemented with the highest standards of quality and excellence and were delivered according to specific plans.

“Since the company’s launching, it delivered 108 hotel apartments, 300 residential apartments, 1500 administrative meters, and 4270 commercial meters,” Yaqoub adds.

Moreover, the company decided to be a part of the state’s development plan to head to the NAC and launch Harmont project in the Downtown area with investments of EGP 2 bn.

For his part, Sherif El Domyati, head of the Commercial Sector at Prime Developments, reveals the company’s plan to launch four projects in various areas, including the NAC, Hurghada, East, and West Cairo.

Additionally, the NAC project is a commercial administrative project, while Hurghada project will be a residential and tourist one. This, in turn, achieves diversity in the company’s portfolio of projects and meets the requirements of current and potential target customers. Prime developments will announce more details for both projects during the official launch.