New City Development Collaborates with EL HAZEK Construction Company to provide high - end housing solutions for medium and medium housing through Eco West

New City Development Invests 2.5 billion pounds in Eco West project and begins delivery of units in 2024

New City Development offers housing solutions filling the gap in the local real estate market

New City Development, an innovative real estate development company that develops medium and above-medium high-quality housing projects, has announced a partnership agreement with EL HAZEK Construction Company, which is one of the leading construction companies in the Egyptian market, to carry out construction works with the Eco West project.

The partnership contract was signed by Rami Youssef, Managing Director and CEO of New City Development Corporation, and Mahmoud EL HAZEK, Managing Director of EL HAZEK Construction Company.

The Eco West project is distinguished by a strategic and distinguished location in the city of Sixth of October, and near the most important landmarks and main service areas in the city, where the project is only 5 minutes away from the October University of Modern Science and Literature (MSA) and from the largest commercial mall in Cairo, and 15 minutes away from the airport Sixth of October And 15 minutes from the largest archaeological and tourist area in Greater Cairo (the Giza Pyramids - the Great Egyptian Museum - the New Tourist Walk).

"The signing of a cooperation agreement with smart construction company is part of New City's sustainable strategy to collaborate with partners who have the highest levels of efficiency, experience and quality in their fields, as is true of smart construction. This partnership will allow us to provide high-quality services in the Eco West multi-use project and confirm the company's vision that high quality and appropriate price can be found in the same equation.", Said Rami Youssef, Managing Director and CEO of New City Development Corporation.

"Eco West is a distinct project and one of the most important projects the company is keen to participate in, given New City's credibility and its serious strategy of delivering the product of high quality by applying the best and highest standards of construction at prices that are appropriate for its target customer in the project Eco West.", According to Eng. Mahmoud Al-Hathiq, Managing Director of EL HAZEK Construction Company, while signing a cooperation agreement with New City Development Corporation to set up the Eco West project.

The Eco and 6 project has innovative designs that incorporate the latest international European and Japanese standards of intelligent and ideal use of space. The project was designed by Rashid Karam's famous and highly experienced Lebanese architectural design office with 80 meters of housing space. The first phase of the project consists of 14 buildings and 1290 housing units. Unit prices start with 850,000 EGP, with payment facilities suited to customer needs. All phases of the project are scheduled to be delivered in 2024 and the first phase will begin During 20 months of this year.

The Eco West project is 120-acre and consists of 4 phases comprising 3,804 housing units, 20% of the total area of the project, while 80% was allocated to green areas, various installations, services and facilities, international schools, playgrounds, mall, mosque, church and recreational areas.

"Extensive market studies conducted by New City Development were able to assess the growing demand in the local real estate market, indicating a huge demand for housing, with the middle class representing 35% of Egypt's population, and with a large and continuing demand for housing projects that meet needs, the real estate sector will see significant income growth in Egypt in the near future.", This was stated by engineer Rami Youssef.

New City Development Corporation was founded in 2007 and has changed traditional patterns in the Egyptian real estate market by providing a real estate product that meets the needs of the middle and middle class according to the highest quality standards. The company's leading vision is to provide practical solutions to the current challenges facing the real estate sector, especially as the sector is experiencing rapid and continuous growth in demand for diverse real estate projects. New City Development has an 825-acre land portfolio in October 6 and Upper Egypt.

The land portfolio is expected to expand over the next year. The company is currently preparing to launch the second phase of its project in Qena Governorate The Qena Gardens Project is the first project to introduce a new concept for modern urban communities in Upper Egypt.

Since its inception in 2007, New City Development has worked with a clear vision for the future and with the primary goal of improving the lives of Egyptians through the provision of advanced housing solutions for medium and medium housing. Thanks to its extensive market research into the reality of Egypt's real estate market, New City Development was one of the leaders in developing innovative and sustainable real estate projects.

At the same time, New City Development is a real estate developer for integrated urban communities and projects that include all services, facilities and facilities, and thanks to an integrated vision led by a team of intellectually competent and practical experts in the fields of engineering, urban planning and development, New City Development has been able to change traditional concepts and patterns in the real estate sector and achieve a leading position in the Egyptian real estate market within record time.

EL HAZEK Construction Company is a leading company in the field of high-rise building construction in the Middle East, and always aims to maintain global safety and quality standards, as the company obtained ISO 14001/2015, 9001/2015, 45001/2018 certificates, in order to ensure continued confidence between EL HAZEK Construction Company and its partners of the elite real estate developers and major local and global contracting companies to build outstanding and distinctive projects with the aim of establishing urban communities at the highest level and contributing to the state's sustainable development plan.

The company is aiming for expansion in other sectors in the coming period, such as the transportation sector, roads and Bridges, in addition to the desalination plants and sewage treatment plants sector, where the company is currently studying several projects of different sizes in several governorates and investing in the construction materials industry.