The project will be built on an area of over 18,000 sqm, with EGP 5bn in investments. It will comprise 41 floors.
Chairperson and Founder of Urbnlanes and Director of Kuwaiti First Group Emeel Abdallah said that Urbnlanes is one of the First Group’s companies, which was established in order to develop giant urban projects commensurate with the size of the urban development that Egypt is witnessing in the current period.
Abdallah added that when the group decided to double its investments in the Egyptian market accordingly, it decided to launch Urbanlanes to develop a number of projects in building and construction, seizing opportunity and deepening business in the Egyptian market.
Furthermore, First Group Vice President Nael Al-Yaqoubi expressed his happiness with directing new investments into the Egyptian market in the field of real estate development.
He praised the size of achievements in infrastructure, roads, and urban projects that let Egypt be an attractive, safe, and more stable market for investors, thus their decision to invest in the NAC, as it is an ideal model for investment in the field of real estate.
Urbnlanes CEO Fadi Abdallah said that the Levels Business Tower project is Urbnlanes’ first project, with investments estimated at EGP 5bn as part of a strategic plan that includes launching three projects with investments totaling EGP 10bn in 2022.
He elaborated that the company began its businesses with the Levels Business Tower and two other administrative projects that will be offered in the Northern and Southern 90th streets in New Cairo, with initial investments worth EGP 5bn.
He explained that the Levels Business Tower project consists of 41 floors with a height of 153 sqm, including five underground floors that will serve as parking spaces and 36 floors for administrative and commercial properties and serviced apartments on a total area of 18,000 sqm.
