“Urbnlanes” the real estate development agent of Kuwaiti “First Group” Investments, launched its first projects in Egypt in the field of development “Levels Business Tower”, in an ideal and unique location in the Downtown, with a total estimated investment of about 5 billion pounds, on an area of 18,000 square meters, directly overlooking the Green River, with facade 90 meters, 41 floors high, on three main streets, and near all the main axes of the New Administrative Capital.
Eng. Emeel Abdallah “Urbnlanes” Chairman, Founder and director of Kuwaiti “First Group”, said during his speech at the press conference the company held to announce the details of the project, that Urbanlanes is one of the group’s companies, which was established in order to implement giant urban projects commensurate with the size of urban development that Egypt is witnessing now, and based on their experience which exceeds 36 years in various fields of construction and building in Kuwait in the construction of high-rise towers and their strong financial solvency that makes them able to implement their projects according to the highest global standards and specifications, pointing out that the company has about 13 administrative projects in many vital areas in Egypt, explaining that Kuwaiti First Group, has contributed in the building of a large number of projects, whether private or governmental, and has a very clear impact in the giant projects that the company has implemented throughout the years of its work in Kuwait, as they have 3600 employees in addition to a ready-mix concrete factory and heavy construction equipments owned by the company in Kuwait.
Kuwaiti businessman Nael Al-Yaqoubi First Group Vice President, expressed his happiness with pumping new investments into the Egyptian market in the real estate development field, especially at that time, praising the size of the achievements and the unprecedented development in infrastructure, roads and urban projects that let Egypt be the most attractive, safer and more stable market for investors, and thus their decision to invest in the New Administrative Capital, as it is an ideal model for investment in real estate field of all kinds now.
Eng. Fadi Abdullah, Urbanlanes CEO, said that levels business Tower project is the first project of Urbanlanes, with estimated investments amounting to 5 billion pounds, as part of a strategic plan includes launching three projects with total investments of 10 billion pounds during 2022, which the company started with Levels Business Towers project, and two administrative projects will be offered in an ideal location in the Northern 90th and the Southern 90th in New Cairo, with initial investments of 5 billion pounds.
