Parsley Developments launches 1,800-sqm medical administrative commercial project in New Cairo

Daily News Egypt
4 Min Read

Parsley Developments has completed the marketing on its first project in the El Banafseg area of the Fifth Settlement, New Cairo, which it launched earlier this year.

The success of the marketing has been due to the project’s distinctive location, its designs, as well as the high demand on the area in which the project is being implemented.

The project overlooks several main axes in New Cairo, including the Ahmed Okasha and Mohamed Naguib axes, besides North Tessen and South Tessen Streets.

Mohamed Fathy, CEO of Parsley Developments, said that the company is currently launching a new project in El Banafseg.

The project is a commercial, administrative, medical project overlooking the Ahmed Okasha Axis. Fathy added that this is the company’s second project in the area, after it has completed sales on its first project.

He added that the company plans to hand over the new project within 18 months of contracting, and noted that there are 38 units in the project varied between commercial, administrative, and medical units.

Fathy said that the project consists of two basements, a ground floor and two upper floors, and includes a pharmacy and supermarket with an area of ​​1,600 sqm. Parsley Developments plans to deliver the project three months ahead of schedule, which has prompted it to speed up the implementation rates of the project.

PRE Developments manages the project’s marketing, whilst KAD Commercial Property Management is managing the project. The latter is one of the most important companies specialised in managing commercial centres, he disclosed.

He further elaborated that the company plans to launch four new projects in parallel in the El Banafseg and Tessen Street areas, especially with the promising future of this area for commercial and administrative projects.

“The operation of the New Administrative Capital (NAC) enhances the demand for administrative projects in New Cairo due to its proximity to the major national project,” he said, “The mixed-use projects and services that are provided to the residents of New Cairo have been acquiring a large share of investor interest in New Cairo, in addition to the completion of development in the city, which makes it a destination for many clients and investors.”

He said that Parsley Developments is a sister company to Abtal Real Estate, which has a long history in real estate development in New Cairo, Sixth of October City, the NAC, and the Delta region. It has a structure of shareholders with strong experience in field of real estate and an expansionist vision to transfer expertise of this company to investment areas.

Ahmed El Ashry, CCO at PRE, said that his company is responsible for managing the project marketing according to a strong and distinguished plan. It seeks to reach the company’s project for the targeted customers through the plan, adding that the competitive advantages that the project enjoys in El Banafseg area are in terms of location.

He stressed that the project includes innovative new details compared to similar projects in the region, as the height of the commercial units is 7 sqm. This is an idea that is being implemented for the first time, so that the height of the commercial store is doubled, which allows the customer to make optimal use of the available space.

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