Capriole achieves 30% sales at NAC’s 1st phase of LINX
Capriole Group managed to achieve a record 30% in sales at 1st phase of LINX complex in the New Administrative Capital in the span of 3 weeks.
Mr. Mahmoud Abd El Halim, chairperson of MREC taking charge of managing the commercial sector at Capriole Group and the marketing sector at LINX complex, said that Capriole Group was the first developer to adhere to the presidential directive prohibiting the promotion of real estate projects with completion rates of less than 30 percent.
“ The company carried out that directive even before its issuance, a feat that mirrors its staunch belief in the importance of protecting the interests of clients as well as its seriousness,” said he.
Capriole Group reached that level of completion at its project LINX complex with zero marketing, as it started to promote the 1st phase of that project only after the completion of 35% of constructions, he continued.
MREC, specializing in projects & services and assets management, has come up with a new system for marketing in the New Administrative Capital.
The system provides clients with a real estate portfolio, the first of its kind, as it encloses any purchase of shop, clinic and office against a down-payment of EGP300,000 in a separate contract.
“This offer meets investors demands, as they can lease the out-patient clinic or office or sell the shop and thus generate big returns.”
Up to 15% of LINX sales were closed with Arab investors from Saudi Arabia, UAE, Sudan, Bahrain and Amman, he explained.
LINX complex, spanning an area of 7635 m, occupies a prime location in NAC's MU23 District, half way between the two neighborhoods of R2 and R3 and in close proximity to Embassy Neighborhood and the Central Businesses District.
LINX, a commercial administrative and medical complex, consists of 12 stories with two underground floors. The ground and the first floor are made up of 51 commercial units. Floors, from 2 to 9, include 270 administrative and medical units with investments worth EGP1,5bn.
The underground built-up area (garages) spreads over 15,200m, whereas on-the-surface built-up area spans 22,500m. The administrative units start off at 48m to 2300m, constituting a wholesome floor.
The commercial units and clinics start off at 27m and 54m respectively. Only fully finished administrative and medical units with air-conditioners are set to be handed over.
Capriole Group, with up to 30-year experience, is one of the Egyptian companies that managed to build a strong and distinguished brand outside Egypt, particularly in the United Arab Emirates, where it executed works worth billions of Dirhams, namely skyscrapers, hotels, plants and educational institutions.
In the same vein, chairperson of MREC Mahmoud Abd El Halim expects prices at the New Administrative Capital to surge in 2022 by 25 to 30%.
