Hany Al-Bendary: Our investment reaches EGP 11 billion and work has not stopped despite the spread of the "Coronavirus"
Eng. Hany Al-Bendary, Chairman of the "Sorouh" Real Estate Development and Investment Company revealed that the company had succeeded in achieving a sales volume of about EGP 2.5 billion, since its start of work in the Egyptian market only two years ago, through its project "Entrada", which is now under construction in the center of the New Administrative Capital, with a total investment of EGP10 billion.
Al-Bandari said during the inauguration of the company's new sales and customer service center - on South 90 Street, Fifth Settlement - that the implementation of the "Entrada" project is taking place at an increasing pace, and that the coming period will witness increasing the level of implementation rates in line with the coexistence plan recently approved by the state.
He pointed out that the company had signed a contract to implement the first construction phase of the housing units of the project at a cost of more than half a billion pounds, out of one billion pounds allocated for the implementation of project with the highest international standards, terms and timelines announced to clients.
Eng. Al-Bendary explained that the new sales center offers a unique and different selling experience through multiple technological media, including the simulation application, which enables clients to see all the details of their units, whether in terms of location or view, making them as if they are on the project land, in addition to a giant screen that displays the latest construction work and implementation developments.
The design of the center also took into account the application of all the recommended precautionary measures in terms of spacing areas and the provision of protective tools of disinfectants, facial masks, and sterilization tools for all visitors.
He assured that the sales center will provide about 50 job for 50 families, representing 250 beneficiaries.
The Chairman of the "Sorouh" Company praised the political leaderships directives to support the real estate development industry, especially in light of the repercussions of the novel Coronavirus pandemic, and the need to complete the implementation of projects in the New Administrative Capital, and not to stop it.
Al-Bendary stressed that the New Administrative Capital will lead development in Egypt during the next stage to unprecedented global standards.
He added that despite the major challenges that the real estate development industry has faced recently due to the economic repercussions of the Coronavirus, investment in real estate remains always the most secure, especially in times of crisis.
He pointed out that the "Entrada" project "is an ideal model for integrated urban communities that have all the advantages of the fourth generation of smart cities.
The project is being implemented with a total investment of EGP 10 billion.
It encompasses an area of 300,522 square meters in one of the most important strategic areas in the center of the New Administrative Capital, in front of the International Exhibition City in the region." R7, next to the Diplomatic Quarter, on the same axis as the Grand Cathedral, Al Masa Hotel and the Green River.
It includes more than 3000 housing units, ranging in space from 120 to 220 square meters, ranging from apartments to duplexes.
As for the "Citadel" project, it is a unique model for administrative buildings that provide all the commercial and entertainment services needed by the financial and business community.
The total investment of the project is about EGP 1 billion.
It is located in one of the most prominent and unique strategic sites in the center of the New Administrative Capital in the financial and business district, where it has a direct view of the Presidential Park.
It is 50 meters from the ministries, about 150 meters from the Central Bank, and less than 100 meters from the new building of the Stock Exchange, which is the first area to be opened this year, and it has a rear view of a large area of public parks.
A summary about "Sorouh" Real Estate Development and Investment Company
"Sorouh" was established in March 2018 and since that date it has become a leading company in the field of real estate development and investment, with its administrative and technical expertise and a land portfolio in the most vital areas of the New Administrative Capital.
"Sorouh" has provided the market and the client with residential and administrative real estate products that adhere to internationally acclaimed quality standards that meet all needs and tastes of Egyptian, Arab and foreign clients.
"Sorouh" owns a land portfolio of about 320,000 square meters in the most strategic locations in the New Administrative Capital.
The "Entrada" project is currently being implemented.
Founders:
"Sorouh" was established by a group of entrepreneurs, Egyptian investors and 10% Gulf investors who have multiple experiences in industrial, real estate and commercial fields who achieved great successes inside and outside Egypt.
Those investors decided to benefit from their proven experiences in establishing the company to contribute to the construction boom that Egypt is witnessing after the inauguration of many new cities such as the New Administrative Capital which is receiving local and international attention.
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