UC Developments has sold more than 70% of Suli Golf Residence compound, a luxurious residential community in The New Administrative Capital. The company also has three other projects in the New Capital: Uni Tower 1, Uni Tower 2, and East Tower. The company has sold out Uni Tower 1 and achieved 90% sales rates for Uni Tower 2 and 70% for East Tower.
Achievements and projects
Sameh Awad, CEO of UC Developments, told Daily News Egypt that the construction rates for Uni Tower 1 and Uni Tower 2 projects are proceeding according to the timetables set with the Administrative Capital for Urban Developments (ACUD) company. He said that the company has finished the construction of three floors in the basement and ground floor in both projects and completed 50% of the work to support the excavation sides of the East Tower project.
East Tower’s features and advantages
Awad explained that the East Tower project located in NAC’s Central Business District, and it has a direct 360-degree view of the iconic tower, Green River, and green spaces. The tower will be one of the tallest buildings in Africa, spanning over 12,000 sqm and reaching 168 meters with more than 40 floors. The project offers a variety of commercial, administrative, and luxury-serviced units with different spaces. The project also provides great entertainment opportunities, as it is surrounded by more than 12 commercial complexes, two international hotels, a sports center, an international cultural center, and a group of medical services. The project is also close to the main monorail station and many leading institutions.
Awad added that the company offers price plans that fit on customer’s purchasing power and payment methods starting from a 10% down payment, 15% discount, and installments up to 10 years. He said that the payment plans are always modified according to market indicators.
Suli Golf Residence’s amenities and services
Awad revealed that the Suli Golf Residence compound is a unique project that reflects distinguished urban life with a unique design. The compound encompasses the first golf course in the NAC on five acres, allowing the residents to practice this elite sport. The compound also includes the first golf school, green spaces, gardens, lakes, swimming pools, a health club, running and cycling paths, a shopping center, a park, and Dose Aqua Park. The compound includes various spaces of residential units starting from 155 sqm up to 377 sqm for duplexes.
The company’s strategy and vision
UC Developments is a leading real estate company that aims to expand through its projects and provide high-quality and innovative real estate solutions in Egypt. The company’s strategy is based on achieving sustainable growth, meeting market needs, improving customer experience, and diversifying its portfolio to include residential, commercial, and hospitality properties. Awad stated that the company pays great attention to project quality and innovation and applies the latest technologies and standards in construction and design.
Awad disclosed that the company’s investment in New Capital has reached more than EGP 10bn so far. He added that the company is studying investment opportunities to expand into new geographical areas, whether inside or outside Egypt, based on market analyses and expected demand. He said that the company aims to exploit emerging opportunities, expand its customer base, and reach new markets.
Economic stability and real estate prices
Awad said that the stability of the Egyptian economy in the current period is an influential reason for the prosperity of the local real estate market. He explained that this leads to increasing purchasing power of customers and provides better opportunities to invest in real estate due to increasing demand. He expected that Egypt’s real estate prices would increase in the coming period, because of the increase in demand and prices. He said that there are viable investment opportunities in the local real estate market, which will contribute to an increase in real estate value and return on investment.