Tarek Al-Jadawi

Tarek Al-Jedawi, commercial managing director of UDG: 200 million pounds,E Tower sales within two weeks of the project's launch

UDG achieved contractual sales for the E Tower Administrative Commercial Project in the new administrative capital for about 200 million pounds two weeks after the project was launched in the Egyptian market, indicating that the distinctive location of the project, its technical and engineering design, the diversity of its areas and its presence in the central business area which is considered One of the most attractive areas for investment now has made there a great turnout for the project since its launch, said Tarek Al-Jadawi, Managing Director of the Commercial Sector, UDG Real Estate Development Company.

Al-Jadawi pointed out that the project is considered the company's first business in the field of real estate development, one of the projects that the company intends to launch during the coming period with 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 launching a number of various real estate projects that meet the needs of the market and provide innovative and sustainable solutions in new cities.

Al-Jadawi added that there is a great demand in general for administrative and commercial units in the new administrative capital, especially in the central business district of CBD, and it is expected that prices will witness an increase by between 10 to 15 percent during the first quarter of next year, especially with the approaching movement of state employees in preparation for the operation of the capital during the next six months. The mother purchase at the current prices is a strong opportunity for those wishing to invest in the real estate sector, which was and is still the profitable horse among the various economic sectors, and the highest return on investment is average Long-term.

Al-Jadawi added that the total investment of the E Tower project is LE 750 million, which consists of 14 homes and is located on a 14,000 square meter building area for a total investment of LE 750 million. It was provided with a number of services that help to provide an optimal working environment, such as a full floor reception area, a cafeteria and a large meeting room with computers, as well as a rest room for employees. It will be delivered within 4 years. He confirmed that the company plans to launch its second project during the first half of 2022, which will be in the administrative capital Also new, and there are many investment opportunities under study, the economic feasibility of which is being examined in a number of new cities as part of the company's expansion plan during the year 2022.