UC Developments announces the competition of excavation work to start constructions of Uni Tower project in New Administrative Capital’s (NAC) Downtown, Invest-Gate reports.
The project is being built over an area of 11,000 sqm. Uni Tower comprises 10 floors and a basement, and it offers administrative, commercial, and medical units. The company’s CEO Sameh Awad states that the excavation work included Uni Tower 2 project.
Awad adds that contracted sales of both projects exceeded 85% in a short time after the launch. He further notes that the company has agreed with major management companies to take over the responsibility of managing the mall, and preserve its investment value.
According to Awad, the real estate developer’s strategy focused on injecting investments worth EGP 5bn in three different projects in 2021, but the company’s investments exceeded this number in Q4 2021 after launching the company’s third project in NAC’s CBD. With total investments of EGP 6bn, East Tower project consists of 44 floors. The tower’s contracted sales exceeded EGP 2 billion since being launched.