Dolmen Developments Company, announced its success in reaching the construction rate at “Al Maqsad” project in the New Administrative Capital to 50%, as it is planning to finish the project’s concrete construction next January.
Abdelazim Khalil Dolmen Developments Chairman, said that the increase in implementation rates in the company’s projects is a main part of its strategy, besides the distinguished location of the company’s projects in R3 area in the Administrative Capital pushes for speedy implementation in order to take advantage of the expected occupancy volume in the region after the governmental move to the capital.
He added that the project is located on an area of 2,300 square meters within the” Al Maqsad” project in the New Administrative Capital, where the buildings percentage in the project is only 40% of the total area, and there is a current occupancy rate that offers a real need to provide various services, and the project will provide all the necessary services to” Al Maqsad” clients, pointing that Al Maqsad project is owned by the Urban Communities Authority and there is a current occupancy rate that makes it necessary to provide various services.
He indicated that the company has pumped investments worth 50 million pounds in the project, and it is planned to reach these investments up to 80 million pounds within the end of the project, and the company contracted for supplying basic raw materials such as steel and cement at the beginning of the project implementation, which prevents facing any troubles within the recent price increases that building materials witness.
He assured that the state’s investment in implementing strong infrastructure, housing units, and basic services in the Administrative Capital is a nucleus for raising the percentage of occupancy in it, which benefits the investments of real estate developers in the capital, as providing a suitable environment for housing increases citizens’ demand for housing in the project, and thus the need for various services that are provided through commercial projects.
He pointed that the company’s target when selecting its projects in the Capital is to search for lands in areas that will be inhabited in the earlier stages, which ensures speeding the project’s operation and the achievement of an investment return for the company and clients, indicating that the company still has about 45% of the project units for sale.
He added that the company does not aim to end selling the project at the beginning of its launch, as this does not benefit the company or the client, especially under the change in the prices of building materials as a result of global challenges, as the company’s primary role is construction and development, which is done according to a specific plan.