VOW Developments has made its debut in the Egyptian real estate market with a new 6,600-square-meter administrative complex in the New Administrative Capital (NAC), pumping investments worth EGP 1.1 bn, Invest-Gate reports.
With a total built-up area of 34,000 square meters, the eight-story development, which also consists of two basements, will comprise administrative units, thereby deemed the company’s competitive edge over its market rivals, Chairman of VOW Developments Amr Ashour said in a press release on December 24, noting project marketing will commence next month.
Master-planned by Egypt’s Distance Studio Consultants (DSC), the project is positioned in a strategic location in NAC’s Central Business District (CBD), including fully-finished properties with areas ranging from 48 to 530 square meters. It will also comprise various multi-purpose rooms and conference halls, leaving out that the roof will be utilized to feature several services such as several restaurants, a fully-equipped gym, among others, Ashour revealed.
He underscored that the complex features green architecture, which will offer a flexible, comfortable, adaptable, and sustainable built environment, namely maintained through a building management system (BMS). Hence, maximum energy efficiency and spending cuts are guaranteed, particularly since solar panels will be installed on 50% of the roof area, according to the chairman.
With clients being provided with installments plans of up to seven years, construction works will begin on-site by Q2 2021 to be delivered in the subsequent year, Ashour stressed, emphasizing that project implementation will be self-funded, alongside sales proceeds.