Gates Developments announced the launch of its latest project in New Administrative Capital, VENIA project, on an area of 40 acres, with a total investment worth EGP 2bn, in a huge celebration that was attended by Gates Developments officials, a group of members of the Construction and Housing Association of Gasco, and senior officials at real estate marketing companies.
Mohamed Nabil, Chief commercial associate at Gates Developments, said that VENIA project is an integrated residential project is located in New Capital’s R7 area. The project comprises units of various sizes starting from 127 sqm with built-up area reaches 20% of the total project size.
Nabil added that the company intends to deliver the project in 2024.
He added that the consultant responsible for the project is Academic Center for Design and Consultation, chaired by Hammad Abdullah Hammad, an engineering expertise house that has a strong previous work experience in developing distinctive projects in real estate market. The project is located in plot D4, which is a distinguished place in R7 that adds to the competitive elements of the project.
He pointed out that the project includes a service area encompasses a mosque, a commercial mall, a sports club, a social club, green spaces and lakes on an area of 80% of the total size of the project. The project is located near embassies district, government district, Green River, and the most important international universities in the New Capital.
Beginning construction works of the project at this early phase reflects the strength of the company’s financial solvency in addition to credibility that it maintains to comply with its customers, as the current period requires all serious developers to speed up construction rates to avoid high cost of construction materials, Nabil disclosed.
For his part, Ahmed El Desouky, Sales Director at Gates Developments, said that the project overlooks 4 main streets with a width of 60 sqm and 40 sqm. The units’ sizes reach up to 222 sqm, and is characterized by distinctive interior and exterior design. Moreover, the project includes unique services, including 3 main gates, a squash court and a football and tennis court, a swimming pool, a mosque, a gym, a health club for men and women, meeting rooms and banquet halls.
El Desouky explained that the VENIA project includes a 9,000-sqm commercial mall, a children’s play area, 24-hour security and guarding, CCTV surveillance cameras with the latest international surveillance systems, in addition to a private car garage under buildings, and a track for walking, running and bicycles, which reflects the diversified services that exist in the project.
