By Hamed Mahmoud
As part of its expansion plans within the Egyptian real estate market, Valencia Real Estate Development Company is launching a new project in the Administrative Capital, wishing to push its investments to the LE1.5 billion threshold by such projects, a senior company official said.
Engineer Moustafa Lotfy, Executive Director of Valencia Real Estate Development, said that “the company is in the process of launching a “medical-administrative-commercial” project in the Downtown area – the most unique region there”.
He added that the company headed to invest in the New Capital following thorough studies, which cleared the feasibility of investment in the New Capital and the existence of promising opportunities there for investors and real estate developers, in light of the an unprecedented construction boom that has been achieved on the ground.
“Choosing the Downtown area for embracing the company’s first project is due to certain reasons, foremost among which is the uniqueness of the area; hence its centrality, and the presence of investment opportunities that achieve high returns,” Lotfy said.
He added that the company is very confident in the future of the real estate market and new investment opportunities in the sector, forecasting that the investment in the New Capital achieve highest return, thanks to the promising and fertile area for investment.
The executive director spoke of the company orientation to invest in the North Coast and to launch a new coastal project there during the next period.
He praised the state’s plans to develop and boost the North Coast and turn it into areas that attract investment and citizens throughout the year and not only during the summer, pointing out that the coming period will witness an unprecedented urban boom in that region.