Founder and Chairman of El Shennawy Group Farag El Shennawy said that the New Administrative Capital is one of the fourth-generation cities that receives great attention from the Egyptian state.
El Shennawy added, “We all witness the growth volume and speed transformation at NAC, which makes it a destination worthy of investing and offers promising opportunities and returns as much as it offers solutions for those who favor a move to a smart and sustainable city.”
He noted that the company has 30 years of experience in construction and contracting which is an advantage and privilege in support to the execute and delivery of a distinguished project in the New Capital. Accordingly, the company launched FINSQUARE boutique workplaces at the New Capital’s financial district in plot CS11, with a total area of 6,000 sqm and 12,500 sqm built-up area.
He pointed out that SG is cooperating with Invesrion, Archrete Design Studio, VIM33 Consulting Studio to plan, design and market the project consecutively.
He clarified that the company has already started earth works, and plans to deliver the project within two and a half years. FINSQUARE offers fully finished offices from 45 sqm at competitive prices with a 6year payment plan.
He disclosed that FINSQUARE Boutique Workplaces is the company’s first real estate development. Consequently, SG aims to expand the execution of commercial projects and luxury residential projects inside and outside the New Capital, especially with the diversity of investment opportunities that the state is currently offering within many fourth-generation cities throughout Egypt.
He exclaimed that SG’s most competitive edge in the New Capital is its heritage and 3 decades of experience in construction, in cooperation with distinguished partners. The company acquires the necessary market studies to deliver a contemporary real estate product.
Egypt’s real estate market prices; especially the New Capital; are expected to increase at a minimum of 25% by the end of 2022, due to high demand and increasing prices of materials and the cost of construction. Nevertheless, real estate companies counterparts to that by offering flexible payment plans besides, the continued provision of initiatives by the state to support customers to make purchasing decision, according to El Shennawy.
He disclosed that the development in Egyptian real estate industry makes it a global attraction, and positions Egypt as an interesting destination with much to offer to investors and end users.
Egypt succeeded in acquiring a bigger share of global markets investment transactions while achieving economic growth rates despite the COVID-19 pandemic crisis, and its consistent progress and urban development, all of which are key attraction elements for foreign investments and world’s attention to the growth Egypt is currently witnessing, he concluded.