IHD Developments eyes to sell 75% of the “VIVID Business Tower” with a total of 160 units, in the New Administrative Capital by Q1 of 2022.
Hossam Al-Askhar, the company’s chairman said that reservations have started on the project since the beginning of this January, and the project witnessed a turnout from customers to purchase, due to the project’s strategic and vital location, with the most important and first entrance to the Downtown area, overlooking the largest squares and the first in the city center in the New Administrative Capital, noting that The general plan of the project has been approved, and drilling licenses are being extracted and construction will start within the next month.
Al-Akshar added that there is great confidence by developers and investors in promising investment opportunities in the Egyptian market, especially in the new administrative capital in light of the state’s plans to bring about an urban boom at the level of the Republic, whether in the governorates, or new cities and fourth-generation cities, pointing out that the entry of the private sector as a partner in this The Renaissance contributes to accelerating the pace of work and achieving comprehensive development on the ground in record time.
Al Akshar pointed out that the company has a strong business precedent, as it has implemented a large number of projects and villas in New Cairo, in Narges, South Academy, Lotus and Beit El-Watan.
The company has founded since 2012 and its investments in the market amounted to LE2 billion, and it seeks to implement an ambitious plan to transfer our expertise to the capital, stressing that “VIVID Business Tower” will not be the only project in the capital, but they are studying new projects in the New Capital and the New Galala in the coming period.
The company’s commercial director, Hesham El-Foly, said that the project includes ground and 14-storey, with a total of 211 units, explaining that the units’ spaces start from 25 metres, and commercial from 30 meters to 100 metres.
El-Foly added that 75% of the units, totaling 160 units, were put up for sale during the first quarter of this year, noting that with the high demand from customers to buy, and with the sale of all units sold out, before the end of the first quarter, the rest of the units will not be offered, especially, with the company’s ownership Strong solvency, enabling it to build, without having to sell the entire project.
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