The company will be established under the name “United Company for Establishment, Management, Operation, and Maintenance of Metro Lines and Rail Transport” in accordance with the provisions of the Law on Joint-Stock Companies, Partnerships Limited by Shares, and Limited Liability Companies, and Investment Law.
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The original neighbourhood of Garden City – located in the heart of Cairo – houses elite families and foreigners as well as foreign embassies, such as the United States, Britain, and Italy, in addition to upscale hotels and restaurants.
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The project comprises 2,500 housing units with different sizes and three commercial malls on an area of 60 feddan on a building area of only 20% of the total area of the project, and the rest are green areas.
Other companies that participated in the tender were El Sewedy, Infinity, Lightsource BP powered by Hassan Allam Utilities, Arab Organization for Industrialization, and others.
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Chairperson of Al-Amiriya Press Ashraf Emam said the authority is equipped with the latest production lines, which include digital printing services, color separation, implementation of designs and technical equipment with the latest offset printing technologies in the Middle East region.
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He revealed that 60% of the project’s sales is for non-Egyptians. Additionally, the company plans to be present at the Everest real estate exhibition in Kuwait in October.
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The company targets marketing the project within six months with prices ranging between EGP 40,000-80,000 per sqm.
The sources added that the Administrative Capital for Urban Development (ACUD) issued the tender’s prospectus on Sunday for $5,000.
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“These youth conferences have certainly become essential for the young people of this nation because they are giving them the opportunity to express themselves and to brainstorm on issues of concern to them and seek solutions for problems the Egyptian society might be facing,” the member said.
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Mahmoud said that the OIA project is spread over 30 feddan in the New Capital, composed of only 20% of building areas, which include 1,300 units.
Company’s total investments amounted to approximately EGP 36bn
The company said on Tuesday that the mall will operate with the most sophisticated technology as well as include commercial units with small spaces starting from 45 sqm and clinics with 65 sqm with different and various payment plans without down-payments and six-year installment periods.
Company has to complete 25% of its project within a year since obtaining ministerial approvals, says ACUD Chairperson
In this context, it should be noted that in no case may the land be withdrawn from any of the developers contracting with the ACUD on various activities without obtaining a final judicial decision.
Company achieved sales of EGP 860m in 2018, says CEO
Company liaised with ministry of petroleum to set up first district cooling system in NAC
Projects marketed vary in services, spaces, prices, ranging between EGP 7,000, EGP 12,000 per sqm
The company plans to participate in several foreign real estate exhibitions to promote sales for foreigners
The projects are Kai Sokhna, Kai Sahel, La Nuova Vista, Cairo Business Park, IL Bosco and Vinci.
Company building modern commercial project in New Cairo, with 60 commercial, administrative units
‘Owner’ of New Capital is ACUD with two shareholders, 51% is NUCA, remaining is army, capital is $10.3bn