Contact Developments booked EGP620mln sales at 1st phase of Iconic Tower

Ahmed Fikri: Up to EGP1.5bn investments injected into the project

Ahmed Fikri, Chairperson of Contact Developments, said the iconic tower has investments totaling EGP1.5bn and is divided into a podium consisting of a ground floor and two storeys, all of which are commercial, in addition to three floors of commercial units inside the tower.

The tower is located in the heart of the NAC’s Central Business District, amidst a collection of world-class buildings and up-scale towers, which are destined to become a hotspot and a destination for investments and business in the Middle East and Africa (MEA) region.

The 25-storey building with a height of 100m is located on the Central Business District, and will cover a total area of 10,531sqm.

It will be a mixed-use tower featuring commercial, administrative, and medical units, which will be of varying sizes ranging from 35 to 900 sqm.

Ahmed Wagdy, Marketing Director at Contact Developments, said the marketing plan for the current phase zooms in on kicking-off  the second phase as soon as possible with the aim of meeting the growing demand and need for the project’s commercial and administrative units and taking part in effective marketing activities that made the first phase a success.

The New Administrative Capital will shake up Egypt’s Real Estate Investment in the upcoming period, especially after moving ministries and governmental institutions there, he exlained.