By Hamed Mahmoud
WATAN Developments announced launching its first project “Orient Business Complex” at the New Administrative Capital (NAC) with LE1 billion in investments. Orient Business Complex is a mixed-use development featuring commercial, administrative, and medical components located at the heart of the Downtown district of the New Administrative Capital. The project is constructed on a total area of 2,319 m2, and consists of 2 basement floors, a ground floor, and 10 floors including 300 units. The ground, first and second floors are designated for the commercial units, while the remaining floors will be divided between the administrative and medical units, in addition to building a two-story garage in the basement floors for Orient tenants and visitors. The launching was announced in the presence of Mr Sherif el-Hawary, CEO and Chairman of the Board of Directors of WATAN Developments, along with Eng. Kamel Anwar, Team Leader and Senior Structural Engineer at ACE Moharram Bakhoum, the construction
consultant of the project, and Eng. Mohamed Hafez, Chairman of the Board of Directors at Hafez Consultants, the architectural
and engineering consultant of the project.
Orient Business Complex is strategically located at the heart of the Downtown district at the New Administrative Capital, with a panoramic view of Al-Shaab Plaza and Masr Mosque, the largest mosque in the Middle East. At the centre of the main roads leading to North Bin Zayed axis, the project conveniently neighbours the Green River, the central business district, and the governmental district. Moreover, the project’s location is easily accessible by the monorail and within minutes by car from the regional ring road and the New Capital Airport.
“To ensure a striking debut into the real estate market, we saved no effort in addressing each and every detail in our first project with diligence and utmost care, in order to make Orient Business Complex an outstanding icon at the heart of the New Administrative Capital.” CEO of WATAN, Sherif el-Hawary, emphasised on their vision for Orient. Furthermore, el-Hawary explained that WATAN chose the New Administrative Capital to develop their first project following a comprehensive market research. “We studied 4th generation cities and the investment potential they bring to the market, and we are confident the New Administrative Capital will create a business conducive environment where the economy will continue to thrive, especially as the Egyptian market recovers following Covid-19. Ultimately, we hope Orient Business Complex will attract more local and foreign investments, especially from the Arab World” el-Hawary added.
In his closing remarks, el-Hawary revealed that WATAN plans to invest around LE500 million in the construction works throughout 2021, along with long term plans to launch a land portfolio at the New Administrative Capital to develop a series of projects with around LE5 Billion of investments by 2025. “Launching Orient Business Complex is the first step in an ambitious plan to introduce a series of projects that we hope will contribute to fulfill the growing demand for the commercial, administrative and medical units in the market. This will enable us to add more value to our national economy by attracting more local and regional investments,” el-Hawary concluded.
