Watan Developments Injects EGP 1bn in Orient Business Complex

Watan Developments Injects EGP 1bn in Orient Business Complex

Watan Developments announces the launch of its first project Orient Business Complex at the New Administrative Capital with EGP 1 bn of investments, Invest-Gate reports.

“To ensure a striking debut into the real estate market, we saved no effort in addressing each and every detail in our first project with diligence and utmost care, in order to make Orient Business Complex an outstanding icon at the heart of the New Administrative Capital,” CEO of WATAN, Sherif El-Hawary, emphasizes on their vision for Orient.

El-Hawary notes that the company plans to deliver the project by 2024, making it a full-service business complex. WATAN contracts ACE Moharram Bakhoum to be the construction consultant of the project along with Hafez Consultants as the architectural and engineering consultant of Orient Business Complex.

El-Hawary reveals that Watan plans to invest around EGP 500 mn in the construction works throughout 2021, along with long term plans to launch a land portfolio at the New Administrative Capital to develop a series of projects with around EGP 5 bn of investments by 2025. “Launching Orient Business Complex is the first step in an ambitious plan to introduce a series of projects that we hope will contribute to fulfill the growing demand for the commercial, administrative and medical units in the market. This will enable us to add more value to our national economy by attracting more local and regional investments,” El-Hawary concluded.

Orient Business Complex is a mixed-use development featuring commercial, administrative, and medical components located at the heart of the Downtown district of the New Administrative Capital. The project is constructed on a total area of 2,319 m2, and consists of two basement floors, a ground floor, and 10 floors including 300 units.

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