Urbnlanes the real estate development agent of Kuwaiti First Group Investments, launched its first projects in Egypt in the field of development levels business Tower, in an ideal and unique location in the Downtown, with a total estimated investment of about 5 billion pounds, on an area of 18,000 square meters, directly overlooking the Green River, with facade 90 Meters, 41 floors high, on three main streets, and near all the main axes of the New Administrative Capital.
Eng. Emeel Abdallah “Urbnlanes” Chairman, Founder and director of Kuwaiti “First Group”, said during his speech at the press conference the company held to announce the details of the project, that Urbanlanes is one of the group’s companies, which was established in order to implement giant urban projects commensurate with the size of urban development that Egypt is witnessing now, and based on their experience which exceeds 36 years in various fields of construction and building in Kuwait in the construction of high-rise towers and their strong financial solvency that makes them able to implement their projects according to the highest global standards and specifications, pointing out that the company has about 13 administrative projects in many vital areas in Egypt, explaining that Kuwaiti First Group, has contributed in the building of a large number of projects, whether private or governmental, and has a very clear impact in the giant projects that the company has implemented throughout the years of its work in Kuwait, as they have 3600 employees in addition to a ready-mix concrete factory and heavy construction equipments owned by the company in Kuwait.
Abdullah added that when the group decided to double its investments in the Egyptian market, it did not find a more appropriate time in which Egypt is living its golden age in the field of development, building and construction, and it has become the most attractive country for investment, so we decided to launch Urbanlanes company to implement a number of unique projects, in building and construction, seizing the opportunity and deepening our roots in the Egyptian market with sustainable urban projects aligns with the state’s vision and direction in creating new urban cities and implementing distinguished projects with unique services, especially with the interest of President Abdel Fattah El-Sisi and the government in advancing the development wheel, which encouraged them to work with the same approach and take the decision of investing in the Administrative Capital to support the orientations of the political leadership in attracting more investors, to contribute in achieving the Egyptian economy sustainable positive growth rates.
Kuwaiti businessman Nael Al-Yaqoubi First Group Vice President, expressed his happiness with pumping new investments into the Egyptian market in the real estate development field, especially at that time, praising the size of the achievements and the unprecedented development in infrastructure, roads and urban projects that let Egypt be the most attractive, safer and more stable market for investors, and thus their decision to invest in the New Administrative Capital, as it is an ideal model for investment in real estate field of all kinds now.
Eng. Fadi Abdullah, Urbanlanes CEO, said that levels business Tower project is the first project of Urbanlanes, with estimated investments amounting to 5 billion pounds, as part of a strategic plan includes launching three projects with total investments of 10 billion pounds during 2022, which the company started with Levels Business Towers project, and two administrative projects will be offered in an ideal location in the Northern 90th and the Southern 90th in New Cairo, with initial investments of 5 billion pounds.
He indicated that Levels Business Tower project consists of 41 floors with a height of 153 meters, including 5 floors underground as car parks and 36 repeated floors “administrative – commercial – touristic and hotel”, on a total area of 18,000 square meters with a unique and privileged location in the first row in the touristic towers on the northern axis of Mohammed bin Zayed and a direct view on the Green River for all units, pointing out that the company’s vision depends primarily on presenting a real difference in real estate development during the coming period which aligns with the unprecedented urban development that Egypt is witnessing now.
Eng. Mohamed Hafez, the general consultant for the project and Chairman of Hafez Office for Engineering Consultations, said that the project was designed with a different and non-recurring idea concerning the luxury and quality of services level and the choice of a strong design, as it is a mixture between fun, work and turning art into an architectural masterpiece in order to create a distinctive brand that will be a very strong addition in the New Administrative Capital, which aligns with the vision of the Urbanlanes and the Kuwaiti First Group, which has the ability and experience that qualifies it to do something unique.
Architectural engineer Shady Abdullah, Urnablanes member of board, said that when the company decided to enter real estate development sector, was obtaining a clear vision of presenting a different project, and for that we conducted extensive studies for the market to present a different project in terms of services and capabilities present in the mall, indicating and apply the clients’ desire, pointing out that Levels Business Tower project is characterized by the diversity of its services and interior designs in each floor classified with special details that distinguishes each group of floors inside the tower from the others, as it includes four projects with different nature, colors and services within one project with different levels of service, which presents the difference in quality of services provided for each client to satisfy their desires according to their own interests.
Mostafa Mohsen, CEO of HAB Real Estate Consulting and consultant for the commercial sector of the company, said that there is a big difference between the real estate developer and the real estate investor, pointing out that the developer is capable of bringing tangible development, and developing different visions and trends in the market that cause radical change in kind of urban projects he implemts, pointing out that this is what First Group seeks to implement, and this is what it turns into a tangible reality for the implementation of different buildings with a long experience that extends to decades of work in Kuwait and Egypt, during which the company gained the clients’ confidence, which qualifies the company to be of the most prominent real estate development companies specialized in administrative and commercial projects in Egypt.
