HMD establishes 2 towers in NAC with EGP 900m investment

Daily News Egypt
3 Min Read

HMD has launched two new projects, Golden Views and Twin Tower, at the New Administrative Capital (NAC) with an investment cost of EGP 900m.

In a press conference, Chairperson of HMD Ibrahim Abdel Dayem said that Golden View is a project located in the NAC’s Downtown that spans over 3,763 sqm and includes 10 floors. The project overlooks the Gold Market and the Mosque of Egypt directly. It also features a parking area with 1,000 available spaces. 

The other project, Twin Tower, covers 3,434 sqm in the NAC’s Downtown as well and includes 12 floors overlooking the Central Business District (CBD).

Furthermore, Abdel Dayem added that both projects contain commercial, administrative, and medical units, noting that all units in these projects are suitable for all customer segments. 

The CBD is in a very strategic location, as it is located on an area of 195 feddans near the most important areas and main hubs in the capital, he noted.

He also explained that the company has contracted with MRB Facility Management Consultant, noting that both projects are planned to be delivered within four years.

Mohammed Rashid, the Chairperson of MRB Facility Management, said that the company is fully responsible for the two projects, starting with architectural and engineering design and implementation, through the accommodating phase, and ending with the management and operation phase.

Rashid pointed out that contracting with HMD comes within the company’s plan to provide architectural and engineering thought on the latest international architectural styles and diversity in the management and operation of a number of malls in all disciplines, whether commercial, administrative, medical, or for hospitality.

Furthermore, Abdullah Anwar, the CEO of the company, said that the NAC is witnessing a booming demand for non-residential projects — whether administrative, commercial, or medical — which led the company to start its first projects in this type of investments.

He explained that Egypt’s real estate sector recovered in the last period and succeeded in overcoming the coronavirus pandemic, adding that Egypt has become at the forefront of countries that attract investment, given the major projects implemented by the state during the past six years. 

HMD was founded by an alliance of major real estate developers with experience and credibility, whose business covers several Egyptian governorates, including Cairo, Alexandria, Sharqeya, and others.

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