Emtelak completes sale of 1st phase of WESTIN PARK in New Capital

Emtelak Development has completed sale of the first phase of its Westin Park project in the New Administrative Capital, with a total sales value of LE400 million, a senior company official said.

Ramadan Hosni, Chairman of the Board of Directors of the company, added that the WESTIN PARK project is being implemented in partnership with Mubarak Saeed Baqtian Holding Group. Located in the most distinguished spot in the Downtown Area of the New Capital, the project covers an area of 7800 square metres and consists of ground and 10 floors for administrative, commercial, and medical activities. The WESTIN PARK also contains 2 garages and 400 units, with spaces starting from 45 to 67sqm.

“The project is located at the main entrance to the Downtown Area with a width of 70 square metres from Al-Massa Hotel, the shopping district, near the central monorail station, and directly in front of the hotel towers area,” Hosni said.

Added to the unique features the project has, Hosni added, it offers special payment plans and discounts, to suit the purchasing power of various consumers. The price per square metre for a commercial unit starts from LE70, 000 and for the administrative and medical units start from LE21, 500

He illustrated that the company has contracted with the YBA, an engineering consultant, to supervise the project’s engineering and architectural designs and to execute the project according to the highest local and international standards.

The company has already started the project’s execution works, he said, unveiling that the project is scheduled to be completed and delivered in four years. The commercial units will be delivered semi-finished; meanwhile the administrative and medical units will be fully finished.

For his part, Dr Abdulaziz Salama, Managing Director, said that the company headed to invest in the real estate sector through Emtelak Company thanks to the strong investment climate in Egypt, adding that “this pushes the company to expand the new investment portfolio during the coming period”.