New City Developments (NCD), an innovative real estate company that focuses on developing high-quality affordable projects, announced today, during a press conference at the Four Seasons Hotel key partnership with leading construction company El Hazek Construction to provide high-quality construction work for Eco West.
Ramy Yousef, CEO of NCD, and Mahmoud El Hazek, Managing Director of El Hazek Construction signed the partnership.
Ideally located in the center of the 6th of October City, Eco West is within proximity of a large number of different services in the area. The project is 5 minutes away from the MSA University and Cairo’s largest malls, 15 minutes from the 6th of October City Airport, and 15 minutes from the biggest archaeological and tourist area in Great Cairo (Giza Pyramids - Grand Egyptian Museum - New Tourist Walk).
Speaking on the reasoning behind the signing, Yousef said, "Signing this cooperation is part of our ongoing strategy of finding partners with efficient practical expertise in their field and this includes our partnership with El Hazek Construction.
The cooperation allows us to deliver a unique service that is characterized by outstanding experience and value to our clients. With the mixed-use project Eco West, we believe that the project would be a proper alternative for the middle-class housing gap challenge in 2024".
Eng. Mahmoud El Hazek, Managing Director of El Hazek Construction, said: “We are looking forward to collaborating with New City Developments on Eco West, NCD has a clear vision that will help address the arising supply and demand challenges in the real estate market. A vision that offers alternative real estate products with high-quality standards with affordability that meets targeted clients with Eco West.
"We were glad to carry on the construction work in the mixed-use project; where our goal is to turn Eco West into our next success story," he added.
Eco Westcomprises modern design units with Euro-Japanese Architecture that are smart with space, by the Lebanese architecture firm, RachidKaram Architects, makes the best use of its 80 m2areas. Phase 1 has 14 perse buildings with 1290 units and a starting price of EGP 850K, in addition to flexible payment plans that fit their clients' needs. EcoWestexpects delivery in 2024, while phase 1 will be ready in 20 months.
The mixed-use Eco West project comprises 4 phases with a total of 3804 units for only 20% of its buildup area, where 80% of the project is devoted to green spaces and numerous facilities and services, providing international schools, playgrounds, shopping mall for daily needs, places of worship (mosque/church), and children's areas around the buildings.
In regards to the importance of Eco West, Youssef said, "NCD's extensive research assess the growing need in the real estate market; that is clear in the high demand of residential housing that doesn’t meet the supply. As the middle class represents 35% of the population, a high need for projects is present; the sector is far from reaching its' peak as there are clear prospects for growth present for those on the lower-income spectrum"
Founded in 2007, NCD is set to revolutionize the real estate market with affordable and high-quality projects. The company's leading vision; which is providing practical solutions to the current challenges facing the real estate sector, especially that the sector is witnessing a rapid and continuous demand.
NCD currently holds a land bank of 825 acres in the 6th of October, Upper Egypt, and soon to be all across Egypt. New City Developments is currently working on preparations to launch phase 2 of its project, Qena Gardens, the first gated community in Upper Egypt’s Qena.
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