Cornerstone Receives Approval for NAC’s "The Curve" Project

The Cornerstone Development has obtained ministerial approval for the development of its first project, "The Curve" in the New Administrative Capital (NAC).

In a statement, the company's CEO, Engineer Ashraf Boulos stated, that the company has already obtained the licenses required and will begin the construction of the project by the end of 2020.

The Curve is located in the NAC’s distinctive R8 district, a prime location that is near to the Green River, Mohamed Bin Zayed axis, and close to the airport, presidential palace, and ministries.

Mr. Boulos pointed out that the project’s built-up area stands at 18%, which is less than the permitted percentage of 22.5%, with the rest of the project’s land allocated to large green spaces and landscaping.

The project also includes various services and amenities, namely a commercial mall, an administrative building, cultural, social, and sports services.

He added that the company plans to deliver the compound by the end of 2023 with unit areas ranging from between 80 sqm to 320 sqm.

Moreover, 70% of the units range from 80 sqm to 200 sqm, which is what is mostly requested by the clients.

"The Curve’s brand character and strategy were formed by the Brand Architect, Amir Fayo, one of the largest consulting offices in New York, USA," Mr. Boulos said.

The architectural concept and designs of the project were envisioned by the pioneering Egyptian architect, Yasser El Beltagy followed by the award-winning design house, Studio Five.

He noted that Cornerstone Development launched its business in the Egyptian market, based on a portfolio of various real estate projects in both local and international urban and coastal cities.

Mr. Boulos added that his company is based on a strong foundation, and has a range of goals, including establishing its name as one of the leading real estate companies in Egypt during the next few years.

He said that the company’s Board members have broad international and local experience related to real estate investment, namely in contracting, building materials, concrete, and decoration, which qualifies the company to provide innovative products to customers.

Mr. Boulos added that Cornerstone has strong financial solvency that enhances its capabilities to implement high-end projects based on the best modern design and construction standards, as well as, adherence to delivery schedules.

He revealed that Cornerstone Development’s licensed capital currently stands at EGP 1bn.

The most prominent features of the company’s strategy in the construction of its projects are the combination of innovative and unique designs specifically for its customers. This includes smart building models equipped with modern technology that keeps pace with the latest international trends in the world of construction and building.

In addition, the company maintains compliance with green architecture standards to provide luxury and healthy life to the clients, granting a luxurious and healthy lifestyle to The Curve’s residents.

Mr. Boulos noted that the company is also interested in narrating its concept of social cohesion, which comes as part of its compliance with providing a high quality of life for its customers.

This will take place through the establishment of boutique compounds, as well as reviving cultural heritage through social clubs. These will be undertaken through equipped halls for painting, exhibitions, cinemas, and meeting rooms, to provide an ideal life for residents.

The Curve will deliver all its units with an 80% Flexi finish system. Thus, the clients will not need to worry about any of the tedious work given that they will receive the units with mosaic tiles for flooring ready to install HDF or porcelain, fully installed windows, flooring tiles, and handrails for terraces established internal piping for all electrical supplies and units.

Moreover, the clients will still be granted the opportunity to choose their wall’s final coat, lighting, flooring, appliances, and furniture according to their unique taste.

Boulos said, “Cornerstone is committed to providing its units with competitive prices and fully flexible payment plans, in addition to making sure to provide luxury units to enhance customer confidence in the Cornerstone Development brand.”

"The company is committed to handing over its units to customers in accordance with agreed specifications and delivery dates, as well as creating a homogeneous base of clients," he added.