By Eman Hamed
Based on Mazaya Developments vision in New Administrative Capital as a promising national and investment project, and within its ambitious expansion investment plan; Mazaya Developments announced the launch of its fourth project in the New Administrative Capital, with investments reaching 5bn EGP. The details of the project were announced during a press conference held by the company in the presence of its officials and an elite group of journalists and media professionals.
The conference witnessed the presence of the company’s success partners in the new project, namely Eng. Mustafa Afifi, CEO of Archrete, Diya Boulos chairman and owner of Brain2Fact Group, and Dr. Khaled Samir, chairman of Tashawer, who confirmed their happiness in cooperating with Mazaya Developments and working within this pioneering project in the New Capital’s MU23 region.
Chairman of Mazaya Developments Mohamed Allam said that the company had a futuristic vision by directing its investments in the first phases of the New Administrative Capital. The city has become a reality and has life, as the company launched its first projects in the New Capital in the first phases of its development. This reflects confidence in this pioneering project.
Allam added that the new project is located in the most distinguished location in the MU23 area. The exceptional and unique location guarantees the best investment for the company and clients within the project, as the MU23 area is distinguished by being located between the two largest residential areas in the New Capital’s R2 and R3 areas, and is expected to include 200,000 to 300,000 people.
He pointed out that the MU23 area was one of the first areas in which lands were offered, and construction works were done to develop it quickly, making it the closest in operation. In addition, there is movement in the area and the presence of some brands on the ground as well as international schools and universities have been operated in the area since 2019. Moreover, this area is characterized by its proximity to monorail station, electric train station, and central bus station, in addition to a clear entrance from the Suez Road. It is a vital location that is easily accessible by all roads and transportation.
The company’s chairman explained that the project is situated on a main street with a width of 70 metres, next to Al Amal Axis linking the Suez Road and Sokhna Road, directly in front of Mostakbal City project, one minute away from Sports City, next to several international schools and universities, and two minutes away from Al Maqsad compound and 10 minutes from Madinaty. The project’s built-up area doesn’t exceed 30% of the total project area with 106 sqm building width.
For his part, CEO of Mazaya Developments Mohamed Mostafa said that the project is an integrated commercial, administrative and medical building, with a ground floor and 9 repeated floors, as well as 3 underground floors. The ground, first and second floors are allocated for commercial properties, and from the third to ninth floors are allocated for administrative units. In addition to a separate building allocated to medical units of the project and a separate management company is responsible for its operation.
Mostafa added that the project includes administrative offices with spaces starting from 42 sqm, commercial units with spaces starting from 38 sqm, medical units with spaces starting from 36 sqm, a food court comprises restaurants with spaces starting from 36 sqm, in addition to a pharmacy, and a booth for the first time with an outdoor space.
He pointed out that the new project is being launched with a new and innovative investment system presented for the first time in the real estate market, which has been carefully studied to achieve the best investment for owners, and that the main headquarters of Mazaya will exist in this project after its completion.
He added that Archrete was contracted to undertake architectural design of the project, and Brain 2 Fact was assigned to manage commercial and administrative properties within the project. In addition, the company is cooperating with Tashawer company to manage the medical units, pointing out that cooperation with strong and successful entities to work on and manage the project enhancing its investment value and guarantee distinguished operation after its completion.
The company’s CEO disclosed that the nature of the work in commercial, administrative and medical buildings requires the development of business plans that extend for more than 10 years in order to be able to provide an integrated product that facilitates its owners to invest in the project. Therefore, the company has assigned specialized business partners with expertise and previous experiences to help in completing and achieving the perfectly drawn up work plans with aesthetics, architectural harmony and operation requirements at the same time.
He explained that Mazaya Developments’ projects are distinguished by a unique diversity of units that meet all customers needs, whether they are investors or users of the units, accordingly, Mazaya provides smart solutions for startups and large and medium-sized companies.
He noted,” For the first time, Mazaya is offering its distinctive units to the medical sector by creating clinics and medical centers specifically designed to ensure efficiency and achieve the highest return on investment. Moreover, the company succeeded in working on three previous projects that it launched in the New Capital, with total investments amounting to EGP 8bn, namely The Rook, Gemini Blue, and Gemini Red in the Downtown area. There are still promising investment opportunities in the city, as there is a huge development volume at an accelerated rate in the first phase of the New Capital, in parallel with the start of construction and design in the second, third and fourth phases in the city.”
He said that The ROOK is the company’s first project in the New Capital, and is located in the Downtown area, added that 40% of the project’s construction has been implemented, 60% of the project has been sold out, and the remaining part of the project will be marketed after the completion of its constructions.
“The company has also completed 10% of the Gemini Blue project constructions, which is located in the Downtown area, and 60% of it has been sold out so far, and 10% of the Gemini Red project has been constructed and 60% of it has been sold,” he noted.
Mostafa revealed the most prominent features of the company’s plan for the current year, as the company aims to focus on construction in its projects and direct 500 million EGP in investments to achieve this plan. Likewise, the company targets achieving 1bn EGP in sales in its projects during the current year, in addition to preparing for their fifth project, which is planned to be launched before the end of 2024.
This investment plan is being carried out in parallel with looking for new investment opportunities, whether in the New Capital or in other new cities. The current urban development guarantees promising and ambitious investment opportunities for serious companies with strong financial solvency and carefully studied investment plans, Mostafa concluded.