Al-Safwa Group Holding Company, represented by Al-Safwa New Capital, launched the “S-One”, its first project in the New Administrative Capital. Located in the Downtown area of the capital, the project is built on an area of approximately 3,800 square meteres, and consists of two mixed-use towers with a height of 10 floors, diversified between commercial units, administrative offices and fully-furnished hotel suites, a senior company official said.
Engineer Zakaria Al-Shamy, Board Chairman of the company, said that the total investments of the project amount to about LE750 million and that the project features unique designs.
The company received the plot from the New Administrative Capital Company in May 2021, and conducted the surveying works during the current month of June, he said, adding that the construction works will begin immediately and delivery of the units will be by 2024.
The Al-Safwa group began its activity in the real estate investment and contracting sector more than 25 years ago – through its affiliated Al Safwa Real Estate Company – in East Cairo, Mokattam and Nasr City regions, then it has penetrated into the New Cairo, Al-Shorouk City, and the new Gesral-Suez City, Eng Al-Shamy said of the group.
He added that the group’s activities have over time been diversified, with the establishment of Al-Safwa Company for Construction and Supplies to carry out engineering and construction works, then Al Safwa Studio for Design and Finishing, which specialises in finishing works, architectural designs and decorations, and after that the group’s latest company, Al-Safwa New Capital Company, which undertakes real estate development projects in the New Capital.
The past and recent activities have qualified the Al-Safwa Real Estate Company to top the list of the most successful and largest real estate developers; hence a prolonged history through which it has delivered nearly 3000 residential and commercial units in more than six neighbourhoods and urban cities in Cairo, Eng Al-Shamy said.
He added that the Al-Safwa Company for Construction and Supplies has over 20 years implemented more than 200 residential and mixed-use projects.
These achievements, Shamy concluded, are the results of the existence of qualified staff of approximately 250 employees, engineers and technicians, leading more than 2500 workers, as well as a financial group solvency, amounting to one billion pounds, that is targeted to be increased to LE3 billion in the coming future.
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