“HMD” announced the company’s first projects in the New Administrative Capital, named as “Golden View” and “Two Towers”.
HMD Chairman Dr. Ibrahim Abdel Dayem, said that the estimated sales volume of the company’s first two projects in the new capital is about 900 million pounds.
He pointed out that the administrative capital is considered the state’s main project, and only Egyptians will build the administrative capital, and in the next 5 years, we will see the capital in a different way and we are all proud of it.
For his part, Eng. Abdullah Anwar, “HMD” CEO, said that the new administrative capital is witnessing an increasing demand on non-residential projects, whether administrative, commercial or medical, which encouraged the company to start its first projects in this type of investment.
He pointed out that the state is moving towards increasing the rates of urban development at the present time, and the company chooses the administrative capital due to the wide infrastructure implemented by the state and the volume of investments directed to develop the administrative capital with international cities specifications.
He added that the company relies on planned and studied growth strategies in order to achieve the best growth rate in order to expand its activity in parallel with building a strong entity, to become one of the largest real estate development companies in Egypt.
He stated that the company is seeking to obtain licenses from the New Administrative Capital Company, stressing that the New Capital is the state’s project, appreciating the developers’ role within the capital and the volume of investments in the New Administrative Capital.
Engineer Sherif El-Ghazali, “HMD” CCO revealed that the two projects are on the outskirts of the “Downton”, pointing out that the side streets of the Downtown are very wide, which distinguishes the location of the two projects.
He added during the press conference dedicated for announcing the inauguration the two projects, that “Twin Towers” project is the first medical one in the “Downtown” specializing in this field.
He explained that the project’s height is designed as ground and 14 floors and is distinguished by its location next to a wide garden on an area of 2622 meters, noting that the units areas are varied to satisfy all segments of clients, as the areas of the administrative units range from 23 meters up to 36 meters, with
prices range from 54 thousand to 19 thousand, as for the medical units, the price per square meter is 23,000 pounds.
El-Ghazali stated that the company developed flexible payment systems that suits all clients as follows:
– 12% system and installments up to 6 years
– 15% system and installments up to 7 and a half years.
– 20% system and installments up to 9 years.
– 30% system and installments up to 10 years.
– 40% system and installments over 11 years.
– As for the cash system, will have discount 40% out of the value of the unit price.
Regarding “Golden View” project, Al-Ghazali said that it is a project that is located near “Dahab” district and overlooks the Mosque of Egypt, which can accommodate 100,000 worshippers,
on a main street, with two side and front walls, and the project is distinguished by the presence of parking next to it, which can accommodate approximately 1800 cars, adding that the project fulfills the client’s desire to invest in a new way, as it is a commercial administrative and medical one designed with height of ground and 10 floors on an area of 2127 meters.
He noted that the units’ spaces are varied, as the commercial units start from 15 meters, while the administrative and medical units start from 36 meters, adding that the price of a commercial meter starts from 63,000 pounds up to 99,000 pounds, while the medical and administrative meters range from 18,000 pounds up to 23,000 pounds.
He explained that it is planned within 6 months to complete the sales stages in two phases, the first phase, through which we target sales contracts of 350 million within 3 months, and the second phase within 3 months, with a target of sales of 400 million pounds, as the development timetable of the two projects within 3 years.
“HMD” was established by an alliance that includes a group of the largest real estate development companies with experience and credibility, whose business spread widely in several Egyptian governorates, including Cairo, Alexandria, Sharqia, and others, in addition to a group of partners and investors with strong and diverse experiences in the fields of real estate investment and various business administration.