Twenty percent of the upscale Castle Landmark accomplished, CEO

Castle Development accomplished up to 20% of construction works at Castle Landmark project with the real estate developer seeking to finalize first and second phases of the project late this year, according to chief executive Ahmed Mansour.

“ The company set August 2022 to be a date for delivering the project whose whole area hosts a gigantic garage made to be the first of its kind in Egypt,” he told Osoul Misr magazine.

Castle Landmark, unleashed back in 2018 in partnership with Misr for Central Clearing, Depository and Registry, is a residential project whose first and second phases occupy areas of 9 and 17.5 acres respectively in Egypt’s New Administrative Capital with investments totaling EGP5bn.

With the aim of protecting daily wage workers and subcontractors, construction works at Castle Landmark were suspended only for two weeks in order to thoroughly disinfect work sites, he explained, adding that the company adheres to highest proactive and hygienic measures at the work sites.

Egyptian expatriates keep entering into buying contracts for residential units in Castle Landmark via video conference, as clients are allowed to take a look before signing off binding agreements, he elaborated.

While activating online marketing via social media sites, requests sent by customers eyeing units in the project came from Egyptians as well as clients from Saudi Arabia, Kuwait and the U.S.

Egypt is seeing a growing solid demand for properties and allures big investments, particularly in the real estate sector, making demand often oversteps supply, he noted.

Castle Development signed a cooperation agreement with Allianz Misr Insurance Company. Under the agreement, installment payments of one of the former’s clients may enjoy the insurance coverage provided by the latter in case the owner passes away.

Family of the deceased maytakeover the housing unit, subject to the insurance coverage, without having to pay any remaining installments.

Also, Castle Landmark signed a memorandum of understanding with Schneider Electric Misr in order to help provide creative solutions helpful in managing the infrastructure components, energy consumption rationalization as well as the provision of safe and environment-friendly energy.

That could be made possible through the focused reliance on solar energy in heating systems and water filtering as well as in charging electric vehicles.