RNA Developments pumps around EGP 600 mn in its “Triton Tower” project, in the Central Business District (CBD) in the New Administrative Capital (NAC), Invest-Gate reports.
Chairman of the Board of Directors Abdel Galil Hussein reveals that the company will launch the “Triton Tower” project with target sales of EGP 900 mn. This comes after the success achieved by the company’s first project “Elevado Tower” in the Downtown area, which was launched last March with investments of EGP 200 mn.
Triton Tower is a medical, administrative, and commercial project that covers an area of 4,000 sqm. It consists of ground and 13 floors. The ground to the third floors are for commercial units; meanwhile, the remaining floors are allocated to administrative units, with two floors for medical units. Furthermore, the project will be put up for sale in two phases.
For his part, Saudi businessman Yahya El Bassam, founding partner of the company, highlights that the location of the Triton Tower was chosen due to its economic and tourism importance.
In the same context, Hesham El Attal, founding partner, remarks that the project designs were entrusted to Mohamed Hafez for Engineering Consultations, and the management and operation of the Elevado Tower and the Triton Tower were entrusted to the Lebanese company Keep Property.
EL Attal further comments that the main reason for choosing Keep Property for operation is the company’s keenness on credibility and transparency with the client.
For his part, Ali Abdel-Aty, founding partner, adds that RNA has huge financial solvency for its projects and does not depend on cash flows from sales in its projects. Rather, it proceeds in all the steps of the project, starting from the price of the land until delivery without stopping or waiting for sales to be achieved.