Engineer Mohamed Allam, Chairman of Mazaya Real Estate Developments Group, announced the launch of the company’s first project in the New Capital during the last quarter of this year.
The company’s plan include increasing the volume of investments in the New Administrative Capital in the upcoming period.
He added that the company intends to complete its inspiring journey in real estate investment by entering the Administrative Capital market, with investments amounting to 3 billion pounds.
He also pointed out that the company started its activities in 2017, and during this short period, it was able to implement more than 33 residential projects covering New Cairo and Al-Shorouk.
On the other hand, Mohamed Moustafa, The CEO of Mazaya Group, stated that the company aims to provide a different and diversified real estate product to meet all the needs of the real estate sector, including residential, commercial and administrative units.
Moustafa explained that the company’s launch towards the Administrative Capital market comes after a long period of studies and market research, as the company aims, as usual, since the first day of its establishment to make a real boom in the real estate market and provide an addition and value to the real estate product. Unit prices, payment methods, and the presence of real competitive advantages that guarantee the customer the best return on his investment.
On the other hand, Ahmed Mansour, Director of Marketing Department, explained that the expansion plan of the company aims to invest in new cities such as the Administrative Capital, the New Alamein and the New Mansoura, in order to keep pace with the state’s direction towards building new cities within the framework of the state’s plan towards Egypt 2030.
Regarding the selection of the timing of the project launch, Mansour stated that the timing was well studied by the company with the beginning of the transfer of ministries and government agencies to the Administrative Capital, as this contributes to increasing the investment return for the client and leads to an increase in the demand for commercial and administrative units by companies and individuals that seek to benefit from the transfer of ministries and government bodies in the Capital. This also leads to increased reassurance for the investor who wants to see the capital operating normally and receiving thousands of workers and citizens on a daily basis.