EGICS Development mulls investing EGP 1bn in New Capital  

By Eman Hamed

Company debuts its first project at New Capital, Heaven Mall

EGICS Development intends to direct EGP 450 of investments as a down payment through a package of real estate projects in Egypt. The company’s first project in Downtown area at New Administrative Capital.
CEO of the EGICS Group Ehab Abul-Hadid said that this step comes based on the company’s vision to diversify its investment portfolios in Egypt and worldwide.
Abul-Hadid pointed out that EGICS has great experience in real estate and contracting sector not only in Egypt but also at Arab and African levels, as it has branches in many countries, namely Oman, Sudan, Saudi Arabia, Uganda and the UAE, as well as being an exclusive agent for more than 20 major industrial companies worldwide, such as Hyundai, Siemens, and Schneider Electric.
Furthermore, the company has contributed to the establishment and development of infrastructure in many new cities and governorates of Egypt, besides many huge projects such as the development of Egyptian railways in 2013, he added.
Abul-Hadid noted that EGICS decided to invest in real estate sector thanks to promising investment opportunities that are existed in the sector, besides the company’s great experience in contracting projects in governorates.
AAbul-Hadid disclosed that Haven Business Tower project is scheduled to be launched in New Administrative Capital this month.
The Tower is a commercial, administrative, hotel, ground and 12-storey mall in a very special area in the Downtown area.
Abul Hadid stated that the project has a strong competitive advantage within the market, which is that its construction cost will be much lower than any other project, given that among the industrial activities of EGICS  is the production of ready-made concrete and many other materials that feed that industry.
“We work in many projects and with many  developers, as well as the company’s own strong financial solvency and expertise capable of managing capital professionally,” he disclosed. “EGICS has assigned the strongest consultants in its project to provide the highest quality of services provided for the tower, so a contract was made with one of the largest houses of expertise, YBA, besides, Sila Marketing and Sales Consulting, headed by Ahmed Al-Haddad, and MRB Company for Malls Management. Meanwhile, in field of hotel management, negotiations are underway with the famous French company Faisal.