Smart Villages Development and Management Company (SVC) plans to put a limited number of plots, with sizes ranging from 1,000 to 4,000 sqm, up for sale this year, in order to maximise revenues and finance its expansion to create new buildings in eastern Cairo.
The expected price of land will be competitive compared to other administrative complexes in Sheikh Zayed and 6th of October, according to company Chairman and CEO Adel Danish.
For the first time, SVC is announcing the sale of land, rather than buildings, in order to maximise revenues and finance the company’s expansion in eastern Cairo where the company plans to purchase land in the administrative areas to build smart administrative buildings then put the land up for rent or resale, said Danish.
He added that the company hopes to implement its strategic plan this year, which includes building a hotel on an area of 3,000 sqm in Smart Village on Alexandria Desert road. This will be a 4-star hotel dedicated to business visitors coming to Smart Village.
The company plans to establish a residential hotel to accommodate visitors who stay long-term, from one to two months, for example.
Office space in Smart Village amounts to about 520,000 sqm.
A number of international companies base their administrative headquarters in Smart Village, such as Microsoft, Vodafone, and IBM-DELL .The occupancy rate of the buildings owned by SVC is 85%.