Latest news with #NewAdministrativeCapital
Zawya
2 days ago
- Business
- Zawya
Better Home celebrates the delivery of "Solo", its second project in the New Administrative Capital
Better Home the real estate developer announced the delivery of"Solo" project to its customers in the New Administrative Capital. The tour was organized by the company in the presence of Eng. Khaled Abbas, Chairman of the New Administrative Capital Company, and Dr. Ahmed Fahmy, General Manager of the New Administrative Capital Company. The tour inspected Midtown Solo, the company's second project in the capital, which was launched and delivered by the company following the success of the "Midtown Villa" project, Better Home's first project in the capital. The celebration of the beginning of life for its second project was attended by leaders from the New Administrative Capital Company and Better Home, as well as journalists. Eng. Khaled Abbas, Chairman of the New Administrative Capital Company, praised Better Home's strength and performance and the extent of its project achievements on the ground, as it was the first real estate developer to believe in the New Administrative Capital project since its launch, and has many successful and distinguished projects in the capital. During a press conference on the sidelines of his visit to the project, he emphasized that the New Administrative Capital Company always strives to overcome all obstacles facing serious real estate developers, emphasizing that everyone is united. One way to complete this massive national project, which is considered one of the most prominent landmarks of the new republic launched by President Abdel Fattah El-Sisi. He added that the Midtown Solo project, with its unique quality and execution, is strong evidence that the Capital Company is proceeding steadily and that it has major and distinguished projects offering full services. He pointed out that the entire project consists of independent villas with diverse services, reflecting the quality of the project's clients. He explained that the Capital Company has connected approximately 95% of the facilities in the first phase, but has certain binding requirements for the developer to connect the facilities. He emphasized that once these are completed, the services will be connected immediately. Abbas added that the company is currently working on the main roads and landscaping in the R7 area, which have been divided into phases to be completed within a short period of time. Dr. Ahmed Fahmy, General Manager of the Capital Development Company, expressed his happiness with the scale of the Midtown Solo project's completion, which reflects the Capital Development Company's success and its status as a ready-to-live-in place. He praised the company's performance, noting that it is a disciplined company in terms of paperwork and licensing, committed to its clients, and on-time delivery. This makes it a distinguished model for a committed real estate developer, in addition to the project's superb engineering and architectural design and the careful planning of all its services. Fahmy added that Midtown Solo project is the company's second project to be delivered after Midtown Villa project, and that they are pleased with the presence of such sophisticated projects in the capital, capable of attracting a large number of clients and investors to the capital. He pointed out that the company does not hesitate to provide any support to serious developers, having provided four to five facilitation packages for serious developers, which had a significant impact, resulting in a significant amount of delayed collections, the issuance of numerous licenses for a large number of projects, and the resolution of problems faced by some struggling companies with their clients. Fahmy pointed out that Better Home is one of the first companies to invest in more than one project in the capital and believes in the feasibility of investing there. Therefore, it is one of the companies that has been successful in this giant national project from the outset. He pointed out that the Administrative Capital has been and continues to be an attractive investment destination. He explained that the Capital Company launched an electronic tender for units in the R8 area about 15 days ago, and that three times the number of land plots offered applied for. He noted that the winning companies for the plots of land for which there is no competing demand will be announced within days. As for the remaining plots for which there is more than one application, the qualified company will be selected based on the company's technical and financial strength and solvency after the Eid al-Adha holidays. Ashraf Adel, General Manager of Better Home, expressed his pleasure at the honor of Eng. Khaled Abbas visiting and inspecting the company's second project in the capital, and his constant keenness to share with them the exceptional moments in the company's history. He praised the significant role played by the Administrative Capital Company and its leadership in supporting developers and overcoming all obstacles to complete their projects in a manner befitting the scale and importance of this massive national project. Adel pointed out that Better Home was the first real estate developer to acquire a plot of land in the New Administrative Capital since the launch of this great dream, which has become a tangible reality for an integrated smart city brimming with life and reflecting Egypt's civilized image to the world. He noted that the "Solo" project is a milestone in the Egyptian real estate market, as it is the only project in the Administrative Capital composed entirely of standalone villas, with a total of 390 separate villas, spread over an area of 66 acres. The project is distinguished by its strategic location directly on the southern Bin Zayed Axis, next to the Cathedral and the Green River, one of the most important geographical landmarks in the capital. Adel added that the company took into account the low population density in the project's design, allocating 80% of the total area to landscaping, green spaces, and a lagoon, while only 20% was allocated to buildings. This provides a healthy, integrated residential environment that combines comfort and nature. He explained that the project includes a variety of recreational and social services, including a health and social club (Club House) for residents, as well as swimming pools, restaurants, cafes, and pharmacies, enhancing the quality of life within the unique residential complex. The company's general manager indicated that the project has achieved great success since its launch, as it was completely sold out in record time, reflecting customer confidence in Better Home projects and its leading position in the real estate market. The project also includes an integrated commercial area spanning an area of 30,000 square meters, consisting of 14 independent buildings, each consists of a ground floor, first floor, second floor, and roof, in addition to a private basement. Building areas start from 1,250 square meters, in addition to 1,100 square meters of outdoor space and a 940-square-meter basement. Adel added that the commercial area was implemented with a modern "strip mall" design, open and directly on the road, facilitating access for both residents and road users. It includes restaurants, cafes, pharmacies, and international companies, making it a commercial and entertainment destination serving the entire region. In concluding his speech, Ashraf Adel, the company's general manager, expressed his thanks and appreciation to Engineer Khaled Abbas for his prominent and tangible role in the renaissance and growth of private sector projects in the capital. This is a natural result of his continuous follow-up and constant efforts to overcome any obstacles facing companies in completing their work. He praised his ongoing support for the company and for every serious developer working in the capital. He emphasized the company's continued construction and development, and its keenness to seize opportunities to implement other projects in the capital, making it an influential and effective partner for the capital in the field of development and growth.
Zawya
2 days ago
- Business
- Zawya
Egypt, China ink integrated operation, maintenance agreement for CBD in New Capital
Arab Finance: The New Urban Communities Authority (NUCA) and an Egyptian-Chinese alliance represented by Horizon Management Company have signed an integrated operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital, as per a statement. Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny described the agreement as a major step in the modernization of public utility management in Egypt. He said the new model, known as Cost + Margin, strikes a balance between maintaining service quality and ensuring operational sustainability, while preserving state oversight through budget approvals and performance reviews. The agreement covers the management and maintenance of core infrastructure including electricity and water networks, fire systems, and other critical utilities. It also extends to public cleaning, security and safety services, green space upkeep, and environmental monitoring. El-Sherbiny noted that the agreement mandates full compliance with technical specifications and legal standards by all service providers. It includes a system of financial and technical oversight, regular performance monitoring, budget reviews, and the preparation of detailed evaluation reports submitted to the NUCA. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Politics
- Zawya
Egypt launches trial operation of Cairo Ring Road BRT first phase
Egypt's Ministry of Transport announced the start of trial operations for the first phase of the Bus Rapid Transit (BRT) project on Cairo's Ring Road on Sunday, 1 June 2025. This initial phase, now open to passengers, extends 35 kilometres from the intersection of the Ring Road with the Alexandria Agricultural Road to the Police Academy station. The ministry stated this initiative aligns with directives from President Abdel Fattah Al-Sisi to expand sustainable, environmentally friendly mass transit systems and to operate this first phase to serve users of the Ring Road. The BRT is described as an environmentally friendly mass transit system designed to offer high service levels. All buses deployed are locally manufactured, air-conditioned electric vehicles, a move consistent with presidential directives to localise various industries in Egypt, including bus manufacturing. The frequency of buses is planned at every three minutes, equivalent to 20 buses per hour, and is set to increase to every one and a half minutes during peak times. This project is envisioned as a key artery connecting eastern and western Cairo, with a link to the New Administrative Capital, offering a fast, modern, clean, and safe transport option. It integrates with other transport modes, interchanging with Metro Line 1 at El Zahraa and El Marg stations, Metro Line 3 at Adly Mansour and Imbaba stations, and the Light Rail Transit (LRT) at Adly Mansour station. The first phase includes 14 stations: Adly Mansour (a non-standard station); two surface stations with pedestrian bridge access (Bahtim and Police Academy); and eleven surface stations with pedestrian tunnel access. These tunnel-access stations are Alexandria Agricultural Road, Colonel Ahmed Abdel Rahim, Shubra Banha, Mostorod, El Khasous, El Marg, El Qalag, Zakat Foundation, Field Marshal Ibrahim Orabi, El Salam, and Suez Road. The ministry provided details on the areas served by each station: Alexandria Agricultural Road station: Accessed via a pedestrian tunnel, serving the Alexandria Agricultural Road and commuters from Banha, Toukh, Qalyub, and their surrounding areas, as well as those from Shubra El Kheima using the Ring Road. Colonel Ahmed Abdel Rahim station (Sharqawiya area): A surface station with pedestrian tunnel access, serving the Sharqawiya area and nearby villages such as Mit Halfa and Mit Nama. Shubra Banha station: A surface station with pedestrian tunnel access, serving those heading to the Shubra Banha Freeway and the Al-Assar Axis. Bahtim station: A surface station with pedestrian bridge access, serving the Bahtim area, West Shubra El Kheima, and Eskoo Club Street with its surrounding villages. Mostorod station: A surface station with pedestrian tunnel access, serving the Mostorod area, Ismailia Canal, Ismailia Agricultural Road, Belbeis Road, and commuters heading to Amiriya and Matareya. El Khasous station: A surface station with pedestrian tunnel access, serving the El Khasous area and its affiliated hamlets. El Marg station: A surface station with pedestrian tunnel access, serving the New El Marg area, the Marg-Khanka axis, and interchanging with Metro Line 1 via El Marg station. El Qalag station: A surface station with pedestrian tunnel access, serving the El Qalag area, Mohamed Naguib Road, and their surroundings. Zakat Foundation station: A surface station with pedestrian tunnel access, serving the Zakat Foundation area and commuters from Ain Shams and surr © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Hometown Developments signs agreement with Savills Egypt to manage 4 projects in New Capital
Egypt - Hometown Developments has entered into a strategic partnership with Savills Egypt to provide comprehensive management and operational consultancy for four of its flagship commercial projects in the New Administrative Capital. The agreement was officially signed by Diaa El-Din Farag, Chairperson of Hometown for Real Estate Development, and Catesby Langer-Paget, Head of Savills Egypt, during a press conference held at one of Hometown's developments in the New Capital. According to Farag, the agreement covers the Zaha Park, La Fayette, La Fayette Village, and Udora projects — developments he described as among the most prominent commercial brands in the New Administrative Capital. He emphasized that the collaboration reflects Hometown's commitment to preserving clients' investments and trust by ensuring a high return through professional and sustainable operations. 'This partnership reflects our dedication to protecting the long-term value of our clients' real estate assets,' Farag said. 'It supports our vision of delivering projects that not only meet market expectations but also enhance the overall investment landscape of the New Capital.' Farag elaborated on the significance of each project. The La Fayette development, for instance, is a large-scale commercial and entertainment complex covering 43,000 square meters. It is located in a prime downtown position opposite Al Masa Hotel, at Plot No. 1, near the central monorail station. The building consists of a ground floor, five upper floors, and two basement levels. Udora, another key project included in the agreement, is also located near Al Masa Hotel and just minutes from the central station and the financial and governmental district. Designed as a shopping and entertainment destination, the project has achieved significant construction progress, with completion rates reaching up to 95 percent. The Zaha Park project is situated in the MU23 district of the New Capital, directly along Al Amal Axis between residential neighborhoods R2 and R3. It is expected to be the first commercial development delivered in the area. The ten-story structure is designed to serve approximately 25,000 residential units. Infrastructure work, including electromechanical systems, has already been completed. Meanwhile, La Fayette Village is being positioned as a downtown entertainment destination. Construction on this project is also advancing rapidly, reflecting Hometown's commitment to timely delivery and high-quality execution. Farag noted that the collaboration with Savills represents a broader shift in the Egyptian real estate sector toward adopting modern, professional operational frameworks that support project sustainability and long-term investment performance. He added that such strategic partnerships contribute to enhancing the New Capital's standing as a premier regional destination for commercial and investment activity. Catesby Langer-Paget echoed this sentiment, highlighting that Savills Egypt will implement a comprehensive operational strategy tailored to each development. 'Through this agreement, we aim to strengthen the performance and customer experience of all four projects by incorporating international best practices and aligning with Hometown's vision for sustainable operations,' he said. Under the terms of the agreement, Savills Egypt will provide end-to-end consulting services. These will include operational planning, asset readiness assessments, and the development of leasing strategies. The scope will also cover recommendations on tenant mix, occupancy targets, tenant incentives, and detailed financial modeling that outlines projected revenues, operational costs, and long-term expense plans. This partnership marks a significant milestone for both companies and sets a precedent for how large-scale developments in Egypt can be managed for optimal long-term success. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Agreement between Hometown for Development and Savills Egypt to provide management and operational consulting
As part of its preparations to launch and operate its pioneering commercial projects in the New Administrative Capital, Hometown for Real Estate Development has signed a contract with Savills Egypt to provide management and operational consulting across these projects. This step aims to ensure the highest standards of operational efficiency and quality and enhance the customer experience in these developments. The agreement was signed by Mr. Diaa El-Din Farag, Chairman of Hometown for Real Estate Development, and Catesby Langer-Paget, Head of Savills Egypt. The signing took place during a press conference organized by the company at one of its projects in the New Administrative Capital, in the presence of several executives from both companies and a number of journalists and media professionals. Mr. Diaa El-Din Farag confirmed that choosing Savills Egypt, one of the leading global companies in real estate consulting, reflects Hometown's commitment to providing the highest standards of quality in operations and management for its clients. He explained that the agreement covers four projects: Zaha Park, La Fayette, La Fayette Village, and Udora. He added: "This collaboration highlights Hometown's commitment to preserving its clients' investments and trust, ensuring the highest return on investment through professional operations that reflect the identity of the company's distinguished projects. It will also enhance the investment value of these developments as real estate assets that represent wealth to be preserved for clients, the company, and the real estate market." Farag noted that the four projects for which Savills Egypt will provide advisory services are among the most prominent commercial brands in the New Administrative Capital. They represent a new generation of commercial developments requiring an innovative operational strategy, which Savills Egypt will provide. He also pointed out that the next phase will focus heavily on implementing smart operating systems and applying international standards in facility and service management to offer an integrated experience for tenants and visitors while maximizing investment returns for owners and investors. He added that the 'La Fayette' project is a commercial and entertainment development covering 43,000 square meters, located in a prime downtown area directly opposite Al Masa Hotel, specifically at Plot No. 1 in downtown next to the monorail central station. The project consists of a ground floor and five upper floors, in addition to two basement levels. The 'Udora' project is strategically located in a vital area in the heart of the New Administrative Capital, directly opposite Al Masa Hotel and just two minutes from key landmarks such as the central station and the financial and governmental district. This makes it an ideal destination for shopping and entertainment. The company has achieved high completion rates for construction on these projects, reaching up to 95% in some. As for the ZAHA PARK project, it is located in the MU23 area of the New Administrative Capital directly on Al Amal Axis between residential neighborhoods R2 and R3. It will be the first commercial project to be delivered in that area and consists of 10 floors. The project will serve nearly 25,000 residential units, and the electromechanical infrastructure for the project has been completed. The La Fayette Village project is positioned as an entertainment destination in the heart of downtown, and the company has made strong construction progress on it. Diaa El-Din Farag emphasized that this collaboration sets a new model reflecting the direction of real estate development companies in Egypt toward adopting professional and advanced operating methods that ensure project sustainability and optimal investment returns. This enhances the New Administrative Capital's position as a prime investment and commercial destination in the region. Catesby Langer-Paget, Head of Savills Egypt, stated: 'We are pleased to collaborate with one of the key players shaping the real estate and commercial markets in the New Administrative Capital. Through this agreement, we aim to support the operational strategy and customer experience in the four projects through a comprehensive approach, incorporating modern practices aligned with Hometown's vision of effective and sustainable project operation, which supports the goals and vision of the New Administrative Capital.' He pointed out that, according to the signed agreement, Savills Egypt's responsibilities include providing integrated consulting to prepare assets from an operational perspective, setting management and operational strategies, developing a comprehensive leasing strategy that includes tenant mix, occupancy rates, tenant incentives, and detailed financial models covering expected revenues, operational costs, and expense plans. Additionally, Savills will offer innovative insights for revenue generation from common areas (commercialization), prepare operational models, and establish plans for security, cleaning, waste management, parking management, and more. It will also review contracts and lease/sale clauses to ensure long-term protection of the owner's interests. Langer-Paget highlighted that Savills is recognized globally for its expertise in management and operational consulting, with an extensive track record both within Egypt and internationally. Founded in 1855 in the United Kingdom, Savills is a global leader in real estate consultancy, with over 700 offices in more than 70 countries. Its service offering includes asset management, real estate advisory, valuation, leasing, marketing, and property management. Savills began its journey in Egypt several years ago, offering operational, management, strategic consultancy, building & project management, valuations, facility management and marketing for some of the most prominent real estate projects. It is renowned for its advanced expertise in managing and operating mixed-use real estate developments.
