Egypt-based VOW Developments has rolled out a new phase at its New Administrative Capital (NAC) project, or “SOLAS,” featuring 38 workspaces that extend over 3,000 square meters, Invest-Gate reports.

Situated in the vicinity of the Central Bank of Egypt (CBE) headquarters, the latest phase features various areas of office spaces, starting from 48 square meters, overlooking NAC’s Presidential Park, the company’s chairman Amr Ashour uncovered in a press release on June 22.

Currently, VOW Developments is in negotiations with more than one party to sell an entire floor of SOLAS, which will only comprise administrative units, with no commercial activities, Ashour further stated, pointing to the high demand for the project’s flexible units.

Potential clients are provided with a range of flexible payment options that suits all income levels. The newest offer, called “666,” requires making payments of 6% unit price up-front on signing, after six months, and upon delivery. Another one is named “5555,” entailing a 5% downpayment, along with three similar payments after one, two, and three years, separately, said Alyaa Hussein, the company’s marketing and development consultant.

Launched in early 2020, SOLAS is being developed over a built-up area of 34,000 square meters, with the developer targeting EGP 1.1 bn in total sales of the project within the two years. Back then, Ashour noted that works will begin on-site in Q2 2021, in an attempt for delivery in the next year, stressing that implementation will be self-funded, alongside sales proceeds, the company earlier revealed.