CEO of UC Developments Sameh Awad

UC Developments completes concrete works of Uni Tower 1, Uni Tower 2 projects

CEO of UC Developments Sameh Awad stated that construction rates for Uni Tower 1, Uni Tower 2 projects at New Administrative Capital (NAC) are proceeding according to the timetables set with Administrative Capital for Urban Developments company.

In an interview with Realty Catalogue, Awad said that the construction of three floors in the basement and ground floor in the Uni Tower 1 and Uni Tower 2 projects has been completed, as well as the company has completed 50% of the work to support excavation sides of East Tower project.

Awad added that sales rates for each project are proceeding according to sales plan drawn up to ensure risk factor, as the Uni Tower 1 project has been completely sold out, while, sales rates in the Uni Tower 2 project have reached 90%, and the East Tower project’s sales have reached more than 70%. As for the Suli Gold Residence compound, sales exceeded more than 70%.

 Company completes 50% of works to support excavation sides of East Tower project.

Awad noted that the East Tower project in NAC’s Central Business District has a direct 360-degree view of iconic tower, Green River, and green spaces.

The tower will be 168 meters around 40+ floors or more and it will be one of the tallest buildings in Africa spanning over 12,000 sqm.

The main advantage of East Tower lies in an integrated vision that combines commercial excellence with spaces starting from 31 sqm, and administrative properties with spaces starting from 32 sqm, in addition to luxury-serviced units with areas starting from 63 sqm. The design of the project also provides great opportunities for entertainment, and there are more than 12 commercial complexes near it, 2 international hotels, a sports center and an international cultural center, as well as a group of medical services.

As for the location, East Tower is just one minute away from the main monorail station and many leading institutions, thus allowing investors easy access to famous financial and governmental entities.

He added that the company offers price plans that suit customer’s purchasing power and payment plans starting from 10% down payment, 15% discount, and installments up to 10 years, elaborated that payment plans are always modified according to market indicators.

Suli Gold Residence has met with great success and demand from customers since its launch, Suli comprises the first golf course in New Capital on 4 acres.

Regarding the Suli Golf Residence, Awad explained that the project is a luxurious residential gated community that reflects distinguished urban life with a unique design, as it enjoys a strategic location in the heart of the New Capital.

The compound provides many amenities and services, as it encompasses the first golf course in the NAC on 4 acres, giving the compound residents the opportunity to practice this elite sport, in addition to the first golf school, green spaces, gardens and lakes that give an atmosphere of calm and relaxation. The compound includes various spaces of residential units starting from 155 sqm up to 377 sqm for duplexes.

Awad disclosed that the company’s investments in New Capital reached more than EGP 10bn so far, accordingly, UC Developments aims to expand through its projects to achieve the highest return on investment and added value for its customers.

“The company’s strategy is based on achieving sustainable growth through developing and building various real estate projects and providing high quality and innovative real estate projects in Egypt, and works to meet market needs and improve customer experience. Additionally, the company seeks to expand its projects portfolio to include a diversity of properties, such as residential, commercial, and hospitality properties, helps it provide multiple options to customers and benefit from growth opportunities in different sectors,” Awad explained. “Moreover, the company pays great attention to projects quality and the application of the latest technologies and standards in construction and design, and seeks innovation in providing unique and innovative solutions to meet customers’ needs.”

The company’s CEO revealed that the company is studying, during the current period, investment opportunities to expand into new geographical areas, whether inside or outside Egypt, based on market analyses and expected demand. This aims to exploit emerging opportunities, expand customer base, and reach new markets.

The stability of the Egyptian economy in the current period is an influential reason for the prosperity of local real estate market, Awad said, explained that promoting this idea leads to increasing purchasing power of customers and provides better opportunities to invest in real estate due to increasing demand.

He expected that Egypt’s real estate prices would increase in the coming period, because of the increase in demand, and thus increase in prices. There are viable investment opportunities in local real estate market, which will contribute to an increase in real estate value and return on investment.