Equity Real Estate Development has invested EGP 5.5bn in The Capital Way project in the New Administrative Capital, according to CEO Haitham Samir.
Samir said that the project is on a total area of about 42 feddans in a unique location in the heart of the New Administrative Capital, overlooking directly to the embassy district.
Samir added that the company was keen to start promoting the project and offer it for sale following obtaining its ministerial approval according to the company’s policy, credibility, and commitment to customers.
He noted that 65% of the project’s units were sold out within only one month of its launch.
Samir pointed out that the company took into account that the built-up area of the project does not exceed 17.4% of its total area, which is less than the maximum permitted rate (22%), according to the contract. The limits on construction were set to ensure the largest amount of services and green spaces, as well as to provide luxury living for customers.
“The project includes 1,562 units with spaces ranging between 90 and 333 sqm. The project will deliver fully-finished units with air conditioning. The project’s buildings constitute a ground floor and seven floors will be delivered with a private swimming pool and garden and each building includes a range of special services, including a gym, covered summing pool, and children’s entertainment area. The project also includes a variety of commercial and recreational services, security and guarding, and other integrated services,” said Samir. “The design of the project was developed by a global consultant office from the United States, and the landscape designs were developed by a global consultant office in Hong Kong.”
He elaborated that Equity aims to complete the entire project and begin delivering its units ahead of the scheduled time in accordance with the contract, which is four years, as part of the company’s policy.
Equity Real Estate Development is implementing another project, The Water Way, in New Cairo, with fully-finished units.
The company is interested in participating in real estate exhibitions, Samir said, adding that it recently participated in the Egypt Property Show in Dubai.