ZODIAC Development launches 1st project in New Capital with LE400m of investments

With 20 years of accumulated experience in commercial and administrative real estate field, the ZODIAC Development, one of the pioneering real estate companies, announced the launch of its first project in the New Administrative Capital, after achieving great successes in the Egyptian real estate market, and in support of the state’s orientation towards urban expansion in the fourth-generation cities.

In this respect, Mr Hassan Hassanein, Board Chairman of the company, announced that the company is launching its first project in a unique location and on a main street in front of pharmaceutical companies in the Downtown Area of the New Capital.

“Occupying a space of 2.650 metres, the building area of the project is 16.500 meters, with a commercial, administrative, medical activity. The project comprises 13 floors (ground floor + 12 upper floors), with investments amounting to 400 million pounds,” Hassanein said.

He stressed that the company’s total investments in the market amount to LE5 billion with plans to increasing it during the first quarter of 2022.

The company has set expansion plans in the Egyptian real estate market during the coming period, and intends to launch 4 new projects in the Downtown area of the Administrative Capital, in addition to a commercial project in the Fifth Settlement area on the main 90th Street in New Cairo, he also said.

For his part, Engineer Ahmed Fares, head of the commercial sector in the company, said that the New Administrative Capital has become the most attractive area for investment in Egypt and the Arab region, whether for local or foreign investors; hence the company’s endeavors to expand its investments there, coinciding with the state’s plan to relocate vital institutions to the New Capital and its encouragement for small investors to own administrative, medical and commercial units there.

Engineer Adham Hamad, Sales Manager, said that the company’s entry into the New Administrative Capital followed careful studies of the market needs, pointing out that the company offers various payment systems to customers starting from 10% down payment and payment facilities of up to 8 years.