Mercon Developments introduces Nurai Project in New Cairo with EGP 10bn investment

Daily News Egypt
3 Min Read

Real estate company Mercon Developments has announced the launch of its latest project, Nurai, on 16 feddan in a prime location within the Lotus area at Golden Square—the heart of New Cairo.

The Nurai project, with a total investment of approximately EGP 10bn, comprises 350 units and aims to achieve targeted sales of around EGP 3bn in 2024. The built-up area constitutes 80% of the total project size.

Ahmed Embaby, Chairperson of Mercon Developments, stated that Nurai will be executed in four phases, with construction set to commence in the coming days. The company has allocated EGP 800 million towards construction to ensure timely project delivery within four years, as scheduled, without any delays.

Mercon Developments has partnered with expert entities and technical experiences in the sector, such as Inversion for management and project development, to oversee the project. Inversion brings over 25 years of experience in project management and development, adding significant value to the project.

Kamel Ibrahim, CDO of Inversion for management and project development, emphasised that their collaboration with Mercon Developments adds significant value. Mercon is considered one of the promising companies in the real estate development sector, rapidly emerging to compete with major players and aiming to be among them.

Additionally, Mohamed Zaki, Chairperson of British Automotive and a partner in the Nurai project, confirmed that the project, situated in one of the most distinguished locations in the Fifth Settlement, offers new and unique services, making it a real destination for investors.

Nurai is part of Mercon Developments’ expansive plan in the Egyptian market, aligning with the company’s strategy of selecting prime locations to enhance project success. The company is committed to sustainability and upholding social and environmental responsibility, using eco-friendly building materials and designs based on renewable energy.

Mercon Developments stands as a promising entity in the Egyptian real estate market, having delivered over 70 projects. Notable projects include Mall G7 in the Fifth Settlement, Pavo Tower in the New Administrative Capital, and participation in numerous major national projects, such as the Government District in the New Administrative Capital, Dubai Port in Alexandria Governorate, Iconic Tower in the New Administrative Capital, and Grand Gates in the New Administrative Capital. Additionally, CBD Towers in the Chinese Embassy District and other national mega-projects, such as the establishment of a monorail and the New Administrative Capital transport station, contribute to Mercon’s impressive portfolio.

 

 

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