Dahab Development, one of the leading real estate development companies, announced the launch of the second phase of the Iconic Trinity Complex (ITC) project, its first project in New Administrative Capital, during a large ceremony performed by star Mahmoud El-Esseily.
The company honored the success partners of the best-selling real estate marketing companies in the project.
Chairman of Dahab Development Nader Adeeb Moawad said that Egypt is going through a historical stage with the orientations of the state and the political leadership to take care of urban development projects and launch fourth-generation cities, especially the New Administrative Capital.
Moawad added that the state’s leadership of the New Capital project and the great interest in it locally and abroad encouraged us to participate and invest in the city as a national project that will not be repeated.
He pointed out that the company is studying launching new projects during the coming period, whether a residential project in New Capital’s R8 or in Beit Al Watan area in New Cairo.
For his part, Vice Chairman of the company Youssef Nader Moawad said that the launch of the second phase of the project comes after the great success of the first phase, and the second phase of the project includes a distinctive group of units.
He added that the project is located in the most distinguished areas of the New Capital in the MU-23 area, which is a distinct service area located between the second residential neighborhood R2 and the third residential neighborhood R3.
The company was keen to choose a unique location for the project, which is on the largest square, the square and axis of Al-Amal and Bin Zayed North, with a direct view on the iconic tower. The project spans over 25,000 sqm, with 30%built-up area. ITC project’s total investments reached EGP 1bn, and will be completed next October, he noted.
He explained that the company follows a specific sales policy based on selling the project in phases to protect it from price fluctuations and hikes in construction cost that the market is currently witnessing, pointing out that 25% of the project has been sold out.
Meanwhile, Sherif Moawad, a member of the Board of Directors of Dahab Development, stated that the project will start operating during next March, disclosed that the total area of the project is 25,000 sqm, and with 2,450 sqm per floor, divided into a ground floor and 9 floors. The building also includes two basements with a total area of the project land, and a garage on an area of 16,000 sqm that can accommodate 600 cars.
Moawad disclosed that his company has contracted with senior consultants to ensure the project comes out in its best form, led by YBA Architects headed by Yasser Al Beltagy to prepare the project designs, Lebanese Chaddad Group to handle interior finishes of the project. In addition to, PROMET Company headed by Walid Abdel Ghaffar to carry out electromechanical works, and ITC which is responsible for the project construction works.
Member of the company’s board of directors Hany Sobhy said that Dahab Development is always looking to develop its projects with the highest quality and according to the highest local and international standards.
Sobhy pointed out that the prime location of the project is situated in the first area to be operated in the New Capital and the most area witnessing completion rates and advanced construction on the ground.
