Catalyst to inject EGP4.5bn in a mega project in New Cairo

Catalyst Developments intends to inject EGP4.5bn investments into its largest projects in the New Capital, according to Chairperson Moatz Abd El Shafi.

In a speech delivered by Abd El Shafi at an Iftar party organized by the company to honor its staff, he noted that the developer is poised to conclude two projects, and  will clinch new agreements next year.

The company is currently negotiating two new projects in New Cairo, he added, noting that launching new projects in the New  Administrative Capital is mulled over. 

Moataz Abd El-Shafi: The company pumped EGP325mln investments in 2020

“The company is finalizing Ozone, the largest integrated healthcare district in the New Cairo, with a total land area of 4.5 acres, alongside the two administrative projects of Business Plus and Triple C, with both spanning 4200 m and 3800 m areas respectively.”

 North Plus is a commercial project spanning an area of 2000 m, and Elegantry  is built over an area of 5500 m, he continued.

Catalyst Developments is set to inject EGP3.5bn investments into the new projects that the company plans to execute in the upcoming period with the aim of catering to the market needs.

Up to EGP325mln investments have been injected in projects that Catalyst executed in 2020.

The company plans to start off the delivery of Business Plus’ units to clients in December 2021, he explained, expecting all projects to be handed over in 2022.

Catalyst launched North Plus partially  in cooperation with booming shops and restaurants.  

All interior and exterior finishes of North Plus have been awarded to specialized management companies.

Fawkia El Awadi: The project encompasses five administrative, commercial and medical projects

Eng. Fawkia El Awadi, manager of the commercial department at Catalyst, said that the company started to develop five projects simultaneously since 2016.

The company managed to design an integrated and distinguished project that fulfills all needs, she elaborated, noting that  it has increased by twofold the clients ‘investments and recorded 86% increase in sales out of total existing areas.

The projects host brands and well-known restaurants, with which partnerships have been entered into.

The delivery of Elegantry, North Plus and Cairo Capital has started off, she explained.

With the project only partially in operation, North Plus will be in full swing within months, she added.

“To encounter the challenge of running the building efficiently and effectively, each one will be run by a specialized management firm,” said she.

Catalyst Development’s general consultant Ahmed Shaker said that the company sought since day one to come up with exceptional and splendid products in the New Cairo.

With up to 150,000 m buildings owned by the group in the past few years, running them is in the offing, he added.

Sherif Abd El-Shafi: Challenges remain high amidst the pandemic

2020 was one of the toughest years that the company ever encountered because of Coronavirus-induced headwinds, Abd El-Shafi said.

“The challenges were high at that time and all employees were steadfast enough to take up  the responsibility and face up to the challenge.”