Sherif Al-Ghazali, the CCO of HMD, said that the company is targeting selling 50% of its ‘Two Towers’ and ‘Golden View’ projects at the New Administrative Capital (NAC).
Al-Ghazali explained that the marketing plan will be implemented over two phases, the first within three months, and the second in the three months after that.
He noted that the company is targeting EGP 500m in sales in the first phase and EGP 400m in the second phase, pointing out that Golden View is a commercial, administrative, medical project on an area of 2,127 sqm that includes 186 residential units.
Meanwhile, Two Towers is two connected buildings: One comprising administrative and medical units, and the other for medical properties only. It also includes 302 residential units in the NAC’s Downtown over 2,622 sqm.
The CCO noted that the idea of alliances and mergers is the best solution to deal with real estate market variables to create entities capable of continuity, competition, expansion, and provision of liquidity for projects; thus, HMD has been allocated with four investors specialised in real estate development, which are Maelem Group, Al-Horreya, and two other investors.
