Egypt’s real estate company Empire State Developments intends to launch a new project in New Administrative Capital (NAC) in July.
Mahmoud EL-Sarrag, chairman of Empire State Developments, said that the project will include competitive advantages that will make it able to be marketed strongly as soon as it is announced.
He stressed that the company’s choice to launch its first projects in real estate market in New Capital due to the distinction of the project as a national project implemented by the state with the highest standards of quality.
El-Sarrag noted that the NAC project has managed in attracting the attention of local and foreign investors, given the project’s strong development and investment advantages. Besides, the state is implementing the new city with all its capabilities and at accelerated rates, as well as, facilities provided to support investment in the project.
He pointed out that these factors attracted Egyptian and Arab investors working in field of contracting and construction to launch new project in the NAC.
The company’s board structure includes diverse experiences of a group of Egyptian and Arab investors, developers and construction workers for a period of up to 32 years, who contributed their expertise to the implementation of a number of major and distinguished projects in real estate market inside and outside Egypt, he explained.
“The company’s main strategy focused on directing with the state in its investments and development of new cities in new areas that the development process did not reach before,” el-Sarrag disclosed. “The company started its first projects in the new capital, and its expansion plan extends to cities of Galala and New Alamein in line with the state development plan.”
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