UC Developments has launched its third and most important project, “East Tower” capital, in the Central Business District of the New Administrative Capital (NAC), with total investments worth LE6.5b.
The 40-story skyscraper includes commercial, administrative, and hotel units, fronts the iconic tower and the Green River, has the tallest flag pole in the world, and overlooks the northern axis of Mohammed bin Zayed. Besides, the 160-m tower spans over 12,000 sqm and consists of a ground floor, 40 stories, and five garages, a senior company official said.
Sameh Awad, CEO of the company, added that the project is being finalised in co-operation with the 8 largest real estate experts and consulting companies in the world and the Middle East region.
These companies include the German’s Werner Sobek, Archrete Designs, Steel Consultant and CRC, which have long standing experiences in implementing the largest and tallest towers in the world.
The company held many meetings, intensive work sessions and feasibility studies to ensure that the project is being implemented with the highest quality possible, and to be at the same level of its previous two “Uni Tower 1 and Uni Tower 2″ in the Downtown area of the New Capital, following the great success they have achieved, he said.
He added that the project comes within the framework of implementing the timetable and strategic plan that the company has set since its launch in the Egyptian market at the beginning of this year, which aimed to develop 3 projects with a total investment of more than LE5 billion.
Ahmed Moustafa, head of the company’s sales sector, said that the company offers unprecedented discounts on the occasion of starting the contraction, and also offers payment plans of up to 25 years for the first time in the Egyptian market.
Such offers, he also said, come within the company’s keenness to participate in the state’s development plan and keep pace with the initiatives that the state was recently introduced with long-term repayment rates.