UC Developments launches its first project in Egypt’s real estate market at the New Administrative Capital (NAC), Invest-Gate reports.
UC Developments CEO Sameh Awad reveals the launch of its first project “Uni Tower 1” (commercial – administrative – medical) with a total building area of 11,000 sum in a premium location in NAC, according to a company press release.
Awad indicates, during a press conference, that “UniTower 1” is the company’s first business in the real estate market and one of the projects that the company intends to launch during 2021 with a total investment estimated at EGP5 bn. “Uni Tower1 ” consists of 10 floors of commercial, administrative, medical, and hotel with a unique design.
Awad further adds that UC is a new investment entity that was established through a merger of several real estate expertise working in the field of investment, engineering, architecture, marketing consultancy, and project management for more than 20 years and owning more than 70 real estate projects in many areas such as Heliopolis, New Cairo, and October 6. He also points out that the company aims to revitalize the real estate market by diverse real estate projects with a sustainable architectural value in many new cities.
Awad further adds that the company targets to provide a new concept for investment in the sector and to enhance the value of the property, stressing that the firm competes strongly in this project by offering competitive prices and various spaces that meet all the desires and needs of customers.
He also elaborates that the prices of commercial units start from EGP65,000 per meter, while administrative starts from EGP18,000, and medical starts from 27,000 with a payment period of up to 14 years in equal installments and 10% down payment without interest.
Moreover, Awad stresses that the investment in NAC is a belief in the feasibility of investment, especially after the huge achievement on the ground, the great interest of the political leadership in this civilizational project, and the insistence on the speedy completion of the capital in 2021.