Castle Development CEO to “Osoul Misr”: We became leading company in record time
We reached achievement records in our projects in NAC
Castle Development is a significant example to start up companies in Egypt.
The company was able to be one of the most important real estate developers in the Egyptian market in less than 5 years, as it has built a trust bond with its customers because of its high degree of credibility, in addition to offering products that comply with the customer’s needs and the changes taking place in construction sector.
We have over 30 years of experience in Egyptian & Saudi construction sectors
Castle Development is one of the startup companies emerged by the time the first phase of investment land was offered in the New Administrative Capital (NAC). It was able to be one of the leading companies in record time through achieving the biggest progress rates in its project in NAC, with over 30 years of experience gained from the mother company, ABC Group for Industrial Supplies, established in Jeddah in 1982, and had implemented a number of distinctive projects in Egypt and other Arab countries.
The beginning and significance
Since Castle Development started its work in real estate sector, the company was very keen to present high quality products according to the international standards related to designs, constructions and the integrated services, as it proved itself in the stiff competition among companies working in the new capital. It was also keen to introduce an added value to the Egyptian market.
Castle Development CEO Ahmed Mansour said that the company is very keen to achieve the biggest rates of progress in Castle Landmark project in the new capital, despite of the negative impact of Coronavirus pandemic on the real estate sector.
Castle Landmark project is distinctive by a great location in the R7 area in the new capital nearby the Green River and other landmarks.
The compound is five minutes away from the Cathedral Church, 10 minutes away from embassies neighborhood and 20 minutes away from the Capital International Airport. The compound is built on ٤٣ feddans with total investment of EGP 3.7 bn.
Expansion
Mansour elaborated that Castle Development aims to implement expansion plan this year, referring to the company’s expansion plan to launch its latest project soon in West Cairo, in addition to discussing other investment opportunities in the North Coast.
He noted that the company is ready to deliver the first phase of the compound by the end of 2022 until the end of 2024.
Castle Development had also started construction work in Eastside Mall New Capital and it is expected to be sold in the second half of 2022.
Sustainability
Castle Landmark project is a smart city and environmentally friendly project.
70% of the project’s total area depends on solar energy, in addition to 81% of open and green spaces.
Castle Landmark is also offering integrated services that comply with its residents’ needs and help them to have a better lifestyle, as the project’s main planning contains a garage built over the total area of the project for the 1st time in Egypt, to ease the traffic and offering the highest quality of service.
The company had signed a Memorandum of Understanding (MoU) with Schneider Electric Egypt & North East Africa to offer an integrated system for energy controlling and security, meanwhile the company signed another MoU with the Saudi Ashy Co. Bushnaq Contracting Co. Ltd., to provide construction consultancy and maintenance to buildings and the whole project. It also signed a third MoU with Allianz Egypt to offer the best project Insurance systems.
Egyptian is Investment Market Attraction
Egypt’s business climate is supportive to startup companies
Mansour had asserted that the Egyptian real estate market is widely distinguished by the increasing local demand, noting that the Egyptian market needs over 500 residential units annually, referring to the accumulative deficit of 2.5 residential units over the past years, the matter which can be resulted in the increasing opportunity in real estate investment.
He noted that the investment returns in real estate is high, saying that the properties prices increased by 3-4 times since 2010, meanwhile no looses reported in selling properties over the last 100 in the Egyptian real estate market.
He elaborated that the mega projects implemented by the government - like ٤G cities – had contributed in having a variety in the available investment opportunities for businesses, along with the flexibility to get lands for investments with getting all the papers done as soon as possible, unlike the situation in the past.
٤G Cities created big investment opportunities & there is no shortage, competence between companies over finding lands New project to be launched soon in West Cairo...Discussions to expand in North Coast Castle Development follows environmental sustainability measurements, ٧٠٪ dependence on solar energy
