Capital Link Developments launched Verona, its first real estate project worth an estimated investment cost of EGP 700m, in the Downtown area of the New Administrative Capital (NAC).
The company’s Chairperson Ashraf Badea said that Verona is located on an area of 2,085 sqm. It is a nine-storey mixed-use building, comprised of medical, commercial and administrative units, with areas starting from 26 sqm per unit, and prices ranging between EGP 18,000-EGP 22,000 per square metre.
Badea added that the company is keen to sell all medical and administrative units fully finished and with air conditioners, while commercial units will be sold semi-finished.
He also said that the company aims to expand its investments in the Egyptian real estate market, especially in regions that keep pace with the state’s interest and development plans. The most important of these is the New Administrative Capital.
The company’s interest in commercial real estate investments is due to the fact that it has established itself as the most in demand in the Egyptian market, in terms of achieving the highest return.
Therefore, the company has an ambitious plan to implement three projects in the NAC, namely Solano and Dorrado, and Verona. This is in addition to another package of projects in other fourth generation cities, Badea said.