Mercon Developments, a pioneering real estate company, is in the process of launching its latest projects in the Central Business District (CBD) of the New Administrative Capital within days, as part of a strategic plan to expand in the Egyptian market, a senior company official said.
Mohamed Amer, head of commercial sector at the company, revealed out that the launch is as per a timeframe previously set by the company’s board for the project to be launched in 2021.
On the new project, Amer pointed out that it will be a surprise to the Egyptian market in terms of designs, services and unique location; hence its contribution as a strong addition to the company’s projects. The new project also reflects the company vision in providing a number of distinguished and multi-service real estate projects.
Amer also noted that the project is the company’s second in the Egyptian market and that the selection of CBD to embrace the project followed thorough studies to investment opportunities and the extent of the strong demand for this region, which enjoys very high investment feasibility.
“The coming period will witness fierce competition between a large number of developers in this area of the capital, especially with the implementation of a number of projects for government and state authorities there,” Amer forecast.
He also expects for the market performance to move in an upward direction, achieving strong sales rates for most companies during the beginning of the third quarter of this year, given that the market is full of investment opportunities, especially in the New Capital.
Both the volume of purchases and prices will go up during the coming period. For the prices, it will go up by 10 to 15 per cent during the coming period, he anticipates.
