“Nakheel Developments” has received representatives of “Time Hotels” on an inspection visit to the “Double Two Tower” project in the New Administrative Capital, which coincides with the start of the Levelling works in the project.
Eng. Emad El-Tabbakh, Chairman of Nakheel Developments, said that the company started implementing the Levelling works for the project according to the planned schedule, and its about to extract the rest of the implementation licenses in preparation for a strong start in the implementation work. During the coming period, He explained, accelerating implementation rates would reduces the risks of inflationary waves and prices increase.
He added that Nakheel Developments is cooperating with Time Hotels at “Double Two Tower” project in the New Capital, as it is responsible for managing the hotel department in it, and it is the first project managed by Time Hotels in the New Administrative Capital, as part of the company’s plan to cooperate with global
distinguished entities in the project.
He added that the project is a ( Commercial – Administrative unit – Hotel apartments ) built on an area of 9000 square meters, and the commercial part is being implemented on an area of 45% out of the total area of the region, and the expected investments for the project are about 3 billion pounds, and the project is planned to be delivered within 3 and a half years.
He added that the project includes all the elements of excellence, starting with the selection of the site and partners for successful implementation of the project, in addition to providing various and distinctive payment systems for clients that commensurate with the purchasing capabilities and market variables.
Mohamed Awadallah, CEO and Managing Director of Time Hotels, emphasized the uniqueness of the project’s location in the New Administrative Capital, as it is the first project managed by his company in the Administrative Capital, and the company’s third project in the Egyptian real estate market, which reflects the company’s cure selection of projects to take the responsibility of its management.
He added “This is our first visit to the New Administrative Capital, and what we found was more than what we expected and heard concerning the volume of achievements in the city, as there is continuous work in all the project’s axes, and wide achievements that took place in record time which drives the project towards globalization very rapidly”.
He pointed out that Nakheel Developments has succeeded in seizing a distinctive location for “Double Two Tower” project, which makes it one of the prominent signs in the area in which it is located, and it is expected that as the project implementation phases progresses, distinctive signs that clients and visitors of the Administrative Capital will notice.
Time Hotels operates five prestigious brands in the UAE, and the group has won several awards, including “Best Mid-Market Hotel Brand” award by “Arabian Travel Awards”, and “Best Family Hotels in the Middle East” award by “World Luxury Hotel Awards”, all of which make Time Hotels a strong strategic partner for Nakheel Developments.