GEDCO Real Estate Development has sold 85% of the first phase of its Nebu project in the New Administrative Capital

In a move that confirms its leadership in the field of real estate development, GEDCO Real Estate Development announced the completion of 85% of the first phase of its first project in the New Administrative Capital, NEBU.

Dr. Eng. Ahmed El Zalat, Chairman of the Board of Directors, explained that the company has succeeded in a short period of time in achieving sales exceeding 85% of the project’s first phase, which reflects the project’s distinction and uniqueness, both in terms of design and strategic location.

It is located on the largest plot of land in the Administrative District of the New Administrative Capital, with a triple facade overlooking Justice City, People’s Square, Parliament Square, and the Cabinet Building, with a rear view of the Green River, the Mosque of Egypt, and the monorail station.

He pointed out that the project consists of two buildings with a central plaza, in addition to a front and rear plaza. The project includes two garages and eight fully administrative floors, with the ground and first floors allocated to the headquarters of four banks, in addition to a conference hall equipped with the latest technology.

Al-Zalat revealed ongoing contracts with major international banks operating in the Egyptian market, noting that the project will exclusively house the first headquarters of one of these banks in the Administrative Capital.

He confirmed that the NEBU project was designed by global consultant Cube Consultants, under the supervision of Dr. Ashraf Abdel Mohsen, and the building was designed to achieve LEED certification in the administrative category.

The project includes an interior lobby spanning 500 square meters and reaching a height of 16 meters, featuring six elevators and four corridors. The building also features a maximum permissible height for the administrative floor of 4 meters.

He also explained that a contract has been signed with a construction company to implement the concrete structure within a period not exceeding two years from the site’s receipt.

He noted that all necessary paperwork and licenses for the project are nearing completion, with completion expected this month. He emphasized that the company has offered flexible payment plans ranging from 5% down to 12 years, reflecting the company’s financial strength and ability to execute on its own resources.

According to the schedule, the project is scheduled to be completed and delivered within three years.

Concluding his remarks, Dr. Eng. Ahmed El-Zalat revealed an ambitious plan by GEDCO to implement a series of distinguished projects in the New Administrative Capital, similar to the NEBU project, which will be announced soon.