Centrepoint Development announced the launch of its new administrative and commercial real estate project in the New Administrative Capital (NAC), Harmony Business Complex. Located in the Downtown area, the complex will be built on an area of 2,704 sqm.
Chairperson of Centrepoint Development Wael Ramadan said that a contract was signed with Arcrete Engineering Consultants to be an engineering consultant for the project and MRB as the project manager, in addition to contracting with the electromechanical company ProMEP.
For his part, Centrepoint Board member Abdallah Anwar said that the Harmony Business Complex is an administrative commercial project that is 10 storeys high, adding that it is divided into two main parts — shops and administrative units.
He revealed that the project is planned to be delivered within four years of contracting with clients, provided that the implementation of the project will begin within a year of its official launch.
Centrepoint Board member Saeed Hassan stated that the group’s total investments exceed EGP 2.5bn, which includes various projects, as the company aims to take advantage of this huge package of projects to be a base for its expansion plan during the current year, with the company aiming to launch more than one project in the NAC after completing all the market and financial studies that support this expansion.
He added that the company aims to expand in various areas outside the NAC and Cairo, explaining that Centrepoint Development has a plan to invest in hotel projects through its experience in the tourism and hospitality sectors.
“The company’s total land portfolio is more than 115 projects in various areas, including New Cairo, Ain Sokhna, the North Coast, and the NAC, in addition to a tourist village over an area of 60,000 square metres, as the company relies on self-financing its projects, which reflects the company’s strong financial status,” said Mohamed Awaad, the Sales Director of the company.
