UDG Urban Development launches its first project, "E Tower", in the New Capital, with investments of 750 million pounds

CEO, Mohamed Mounir: Signing cooperation protocols with “Invergen”, “GRID” and “ACE Moharram Bakhoum” to ensure the implementation of a project of the highest quality and engineering efficiency

Tariq Al-Jadawi, Managing Director of the Commercial Sector: The project is a commercial administration in the CBD district of the New Capital

The UDG Urban Development Company launched its first project in the field of real estate development "E Tower" in the New Capital, which is a (commercial - administrative) project with a total area of building 14 thousand meters in one of the most distinctive sites in the central business area "CBD "in the New Capital with distinct and direct views on the iconographic tower and near the various vital and recreational areas of the capital.

The company's CEO, Mohamed Mounir, said during a press conference held to announce the details of the project and the company's strategic plan for the upcoming period, And the signing of cooperation contracts with the Invergen Company for Development and Project Management, the "GRID" company specialized in the implementation of administrative projects, and ACE Moharram Bakhoum Company, One of the most important and largest multidisciplinary engineering consulting firms locally and globally to oversee the implementation of engineering and architectural design for the E Tower project.

It pointed out that the project is the company's first business in the field of real estate development and one of the projects that the company intends to launch during a total investment estimated at about 5 billion pounds according to the company's work plan during the current and next year, which depends on introducing a number of various real estate projects that meet the needs of the market and provide innovative and sustainable solutions in New cities.

Mounir added that UDG is a coalition of a number of different economic and investment experiences of its owners and real estate experiences whose working history in the market extends for more than 18 years, which supports the company's economic, financial and technical strength, noting that the strategy of the company is a clear vision of all these experiences together to break through The real estate market through a number of diversified real estate projects with sustainable architectural value in a number of new cities is in line with the vision and plan of the country to create smart and sustainable urban cities.

He said that the company aims to make more investments in the New Capital in the belief in the strength of investment opportunities in this promising region, and to provide a model to be followed in the Egyptian market is part of the company's basic goals to reach leadership in the next few years.

Tariq Al-Jadawi - Managing Director of the commercial sector of the company said that their choice to launch their first investment in the central business area did not come from a void, but rather came as a result of an extensive study of the best and most attractive investment opportunities on the local and foreign sides, pointing out that from their experiences in the real estate sector that is more than 18 years It confirms the strength and attractiveness of investment in the capital, especially the central business area in front of Africa's tallest tower, as the main area that will be the main front for the New Capital worldwide.

Al-Jadawi added that the plan drawn up by the company is based on providing a different and new real estate product on the Egyptian market in terms of the design, strength of implementation, services and concessions that the company will offer in each of its projects with the aim of meeting the needs of the market and providing the actual requirements of its customers that provide them with all the means of comfort and safety and provide the highest return on their investments. Therefore, the company has contracted a number of entities and technical expertise specialized in the sector such as Invergen Management and Project Development to carry out consulting and private enterprise development work GRID Company for Mall Design and ACE Moharram Bakhoum Company to oversee implementation.

The project is a financing consisting of 14 floor and is located on a building area of 14,000 square meters with a total investment of about 750 million pounds. It is provided with a number of services that help to provide an optimal working environment in terms of a fully serving reception area, a cafeteria and a large meeting room equipped with computers in addition to providing a break for employees. It will be delivered within 4 years. The company plans to launch its second project during the first half of 2022 which will also be in the New Capital. There are many opportunities The investment under study is being examined for its economic feasibility in a number of new cities as part of the company's expansion plan during the year 2022.

Eng. Mohamed Diab, CEO of Invergen, said that their cooperation with UDG is part of its expansion plan in the Egyptian market, stressing that the selection and design of the distinctive project site increases the chances of its success, stressing that Invergen has many young experiences spanning more than 15 years in the field of management and development Enterprise.

Engineer Kamel Ibrahim, head of the development sector at Invergen, added that the number of projects supervised by Invergen reached more than 20, spread over the areas of the fifth cluster and the New Capital, west Cairo, northwest coast, and Ras Sidr. These projects are owned by more than 10 companies, operating in the Egyptian market, with a good reputation, with a total sales volume of over 30 billion Egyptian pounds.

Engineer Nabil Badr - Managing Director of GRID added that the accumulated experiences in implementing projects for administrative buildings and shops, It led to fruitful cooperation with entities such as UDG, Invergen and ACE Moharram Bakhoum, in developing a strategy to reach a modern architectural design that is commensurate with the needs of the Egyptian market and impleable, diversified in its use and space, and is the first of its kind to achieve customer aspirations.

Eng. Mohammad Al Jazouli, Regional Director of Business Development at ACE Moharram Bakhoum, was happy to cooperate with UDG, praising the company's vision of implementing the development projects and also saying that the primary purpose is to do the design work to achieve distinctive design and ensure that the design drawings are doable, compatible with each other and achieve simplicity with appropriate systems that save power.