Prime Developments plans to launch two new projects in the Administrative Capital and Hurghada
General Manager 08 May 2022
Prime Real Estate Development Company announced its plan to launch a number of new investment projects in the new administrative capital and Hurghada with the aim of pumping new investments into the Egyptian local real estate market. The announcement came from Nathan Yaqoub, Chairman of the Board of Directors of the company.
Yacoub added that Prime has 14 years of experience in the real estate market, during which it was able to implement about 19 tourism and residential projects, which supports the company's expansion plan in new areas, especially in the New Administrative Capital, which is considered one of the most promising national and investment projects.
Yacoub said that one of the two new projects is administrative and commercial and is located in the Down Town area in the new administrative capital, with an area of 10,000 square meters, and it consists of a ground floor and 12 repeated floors.
As for the other project, Yacoub said that it will be in the city of Hurghada in eastern Egypt and is considered a tourism project that includes hotel units with a distinctive design and has all the basic and recreational services.
Yacoub explained that the company was keen to contract with the largest consultants in the real estate market to implement the strategy for expanding the company’s projects, as the company contracted with real estate consultants “Ali Jaber” and “Magdi Wahba” to develop strategic, marketing, administrative and sales plans to ensure the company achieves the targeted expansion plan.
Yaqoub indicated that the company is in the process of studying a number of offers of contracts with the Service Management Company in preparation for launching and implementing these projects with the aim of achieving the highest international standards and operating and service procedures to ensure sustainability and quality.
The vision of Prime Real Estate Development is based on working to make a real difference in the field of real estate development during the coming period to go in line with the unprecedented urban development witnessed by the Egyptian state during the current period, and aims to provide a luxury real estate product and all services while maintaining the confidence and credibility of the company.
It is worth mentioning that "Prime Real Estate Development" was established in 2008 and has a distinguished precedent in the Red Sea Governorate, where it has implemented many coastal projects, including, but not limited to, "Al Kawthar Heights - Premier Buildings - View Aqua". The company has gained the confidence of its customers thanks to the commitment to delivery times and the highest levels of quality.
The Administrative Capital Company has implemented many residential projects, a number of which have already been sold, and work is underway to sell more of them, in addition to other units of the administrative, commercial and medical types, which aim to provide services to the residential block expected to move soon to the New Administrative Capital.
It is expected that a large number of Egyptian government employees will move to the new administrative capital during the current year, according to what the Egyptian government plans.