Parsley Developments to launch commercial, administrative project in ‘New Cairo’

Parsley Developments plans to launch a project in the most distinguished Banafseg area in the Fifth Settlement, New Cairo.

Considered a mixed-use, commercial, administrative and medical building, the project is being implemented within a residential area with an occupancy rate exceeding 80 per cent, which grants the project multiple investment advantages for tenants or investors willing to join the project, said Abdel-Moneim Tawfik, Executive Director of the founder company, which is in charge of managing the project.

He pointed out that the high density in the region ensures the provision of services being commensurate with such density and ensuring an investment return from the project, especially after the great success of all the buildings that were built in the area.

“Located on the main, direct axis of Ahmed Okasha, close to several main axes, foremost among which is the Muhammad Naguib axis, and to the North 90th Street and South 90th Street and the Ring Road as well as Rehab, the building is distinguished with centralising the largest residential complexes in New Cairo and bordering the al-Rehab, Swan Lake, and Waterway areas,” Tawfik said.

He added that the licenses for the project are being extracted, adding that the implementation begins as soon as the licenses are completed, and that the company has contracted with many experienced consulting companies to finalise the project before the preset timetable and as per the world quality and standards.

Tawfik also spoke of the company’s orientation during the past five years to invest in projects with commercial and administrative activities; hence the speed of implementation, high and fast return and help in meeting the great demand for these projects and serving the population density in the new cities.

He explained that Parsley Developments is a sister company of el-Abtal Real Estate Company, which has a long history of real estate development in New Cairo, 6th of October City, the New Administrative Capital and the Delta, and has a shareholder structure with strong experience in real estate development and an expansionist vision to transfer the expertise to investment areas.