Unite Development Group (UDG) launches its first project, E Tower, at the New Administrative Capital (NAC) at an investment cost of EGP 750 mn, Invest-Gate reports.

E Tower is a commercial administrative mall, consisting of 14 floors with a total built-up area of ​​14,000 sqm. It is located in the Central Business District (CBD), which features a distinctive and direct view of the iconic tower.

During a press conference held to announce the details of the project, the UDG’s CEO, Mohamed Mounir, declares that the company had signed cooperation contracts with the Inversion Consultancy, GRID, and ACE Moharram Bakhoum.

He further points out that the company’s current plan and that of next year targets EGP 5 mn of investment and depends on the launch of a number of various real estate projects that meet the needs of the market and provide innovative and sustainable solutions in the new cities.

UDG’s CCO Tarek El Gedawy states that the selection of project site in the CBD comes as a result of a study of the best and most attractive investment opportunities on both the local and foreign sides. Additionally, El Gedawy explains that the project offers a range of services, providing an ideal work environment with a reception area that serves the entire floor, a cafeteria and a large fully-equipped meeting room. E Tower will be delivered within four years.

El Gedawy confirms that the company plans to launch its second project during the first half of 2022, which will be at the new capital as well.

For his part, Mohamed Diab, CEO of Inversion Consultancy, says that their cooperation with UDG is part of the company’s expansion plan in the Egyptian market. While Nabil Emad, managing director of GRID, comments that the company is cooperating with UDG, Inversion and Moharram Bakhoum to reach a modern architectural design that meets the needs of the Egyptian market.

Moreover, Mohamed Gazouli, regional business development director at ACE Moharram Bakhoum, states that the main purpose is to ensure all designs are in compliance with the agreed standard codes and the requirements of the local authorities.