Current circumstances in real estate market require providing innovative and flexible solutions that suit target customers.
Excavation work has begun in the tower in preparation for beginning construction works soon.
VAI Developments announced the launch of 4T1 PLUS, the second and final phase of 4T1 project at New Administrative Capital (NAC) comprising 160 units with various payment plans that will be offered for the first time in the New Capital.
CEO of VAI Developments Shehab Al-Mahdi said that the successive developments in real estate market and property price hikes require companies to provide non-traditional and flexible solutions commensurate with current purchasing power of customers, confirming the company’s commitment and credibility in delivery dates.
Al-Mahdi added that the company has initiated unconventional and distinct payment plans in the final phase of the 4T1 tower, which will suit the target customers and enable them to invest whatever the amount of liquidity they have.
VAI Developments offers units with the concept of fractional property ownership, which is an idea based on the participation of more than one customer in the same unit with separate contracts and a maximum of 4 customers per unit, so that two, three or 4 customers can participate in the purchase of the same unit, he elaborated.
He noted that the company offers various and flexible payment plans commensurate with the target customers, with the possibility of paying a down payment then the firstinstallment after receipt.
He pointed out,” With the presence of individuals from Egypt and all countries of the world and investors who are frequenting the NAC, there is a real need for serviced-apartments to accommodate in New Capital. Additionally, branded residence is a great investment for customers wishing to achieve an investment return on their units.
He disclosed that the final phase of the project is situated in a prime location over 2,800 sqm and encompasses serviced apartments in the seventh, eighth, ninth and tenth floors, which are fully finished and furnished with spaces range between 60-190 sqm.
Board member of VAI Developments Mahmoud Abdeen stated that the transfer of the government with all its ministries to the New Capital contributes to the high occupancy rate in the city, and the need for various services for the city’s residents and those who frequent it.
Abdeen said that the NAC has become a real city and has a strong achievement volume and a progressive life that increases daily.
He added that the project includes a variety of services that provide a unique experience for the project tenants. The 4TI tower includes a health club, cafes and restaurants, meeting rooms, room service, shops, housekeeping, and concierge services, which guarantees a distinguished stay for the users or beneficiaries of the units.
He noted that the 4T1 project is the company’s second project in the New Capital, and it is located on 2,600 sqm in the Downtown area, next to main monorail station and minutes away from Egypt Mosque, gold market, oil and pharmaceutical companies.
The tower is an administrative commercial project, and the company has contracted with Arabella Plaza to operate the commercial part of the project.
The project comprises hotel serviced apartments that is managed by Concorde El Salam hotel, he revealed, pointed out that excavation work has begun in the project.
He further added that VAI Developments has completed obtaining many licenses necessary for work, to be completed in full soon, went on saying, “ Given the company’s keenness to speed up constructions, it has begun excavation of the project, in preparation for construction works once licenses are fully obtained.”
He concluded that 4T1 will be delivered within 3 and a half years, and a contract was signed with DMA for Design and Engineering Consultancy, one of the largest engineering consulting offices, to be an engineering consultant for the project. Accordingly, the company works with all its efforts to accelerate construction rates and delivery on time to clients.