The Land Developers (TLD) has announced in March the launch of its commercial project, Armonia Walk, with investments valued at EGP 500 mn in the New Administrative Capital (NAC), Invest-Gate reports.

The new 18,000 square-meter development is part of the Armonia residential compound, which will be developed over a period of four years, the company noted in a press release.

The company obtained the ministerial decree for the commercial project last November, with expectations to deliver its first phase in September 2022, the statement added.

“Armonia Walk” has a distinguished strategic location in the R7 neighborhood next to the Diplomatic District. It also lies 1.6 kilometers from the opera house’s building, 2 kilometers from the Green River, 2.5 kilometers from NAC’s cathedral, 3 kilometers from Al-Fattah Al-Aleem Mosque, and 10 kilometers from the new capital’s airport.

Ahmed El-Tayebi, chairman and managing director of TLD, “Armonia Walk commercial project is a great qualitative leap in the field of establishing specialized commercial projects because it provides added value and exclusive services for its clients, making them enjoy a different experience that can never be forgotten. We have tried, through our extensive experience in the retail field in Egypt and the Middle East, to make this project be a real estate model to follow in its capabilities, security and safety factors,  as well as its maintenance requirements and the use of modern technology and other factors that must be available in any commercial project. ”

The commercial project consists of several floors above the ground level, in addition to a ground floor and an upper ground floor. The development features six electric elevators for passengers and two elevators for services, in addition to a parking area that can accommodate 500 cars between the basement and the upper floor.

Armonia Walk will use the building management system (BMS), which controls and monitors ventilation, lighting, electricity, and fire and security systems, as well as the public areas. The project is also run by a closed-circuit television system.

The Land Developers will contract a facility management company for the project to ensure providing efficient services, while reducing operational costs and improving the level of financial supervision and maintenance work.

Armonia includes a variety of recreational facilities and services surrounded by green areas that cover more than 80% of the project’s total area. The residential project is expected to start implementing the construction activities of the first phase during the second quarter of 2020.

To be developed on 41 acres with a total investment of about EGP 3 bn, the flagship project will comprise seven-story buildings with a total of 1,750 apartments to be completed within four years, with the first offering to include 300 units and generate sales worth EGP 1 bn.