In continuation of its path in building integrated societies, New City Development Company - one of the leading real estate companies in Egypt - today, Monday, launched the "Eco West" project in the 6th of October City on an area of 120 acres, which is the first real estate project in Egypt that works to bridge the gap between the aspirations of customers. And their needs and purchasing powers in the market, especially the youth group, which represents a large proportion of the Egyptian population, as part of the "New City" strategy that aims to revolutionize the Egyptian real estate sector by spreading a culture of sustainable development, increasing awareness about integrated ways of life and changing the patterns of the traditional real estate industry. .
The project was launched during a huge ceremony organized by the New City Development Company, in the Sound and Light area at the foot of the pyramids, with the participation of Dr. Raouf Ghabbour, shareholder and member of the Board of Directors of New City Development Company, Dr. Manal Hussein, Chairman of the Board of Directors of New City Development Company, Mr. Rami Youssef, CEO For New City Development Company, Mr. Nour Othman, Director of Sales Department at New City Company, was attended by an elite group of businessmen, New City partners and a group of media professionals and journalists.
Eco West project provides an advanced and intelligent model for integrated life, especially for young people by providing a variety of residential spaces with optimal use through smart modern design based on European architectural thought, and allows the use of spaces in an ideal way to spread a new and unprecedented culture that will develop the real estate industry in Egypt, To meet the needs and satisfy the aspirations of ambitious youth.
Besides, each unit is surrounded by green spaces that add beauty to it and help young people to live in a comfortable environment that supports their ambitions away from the hustle and bustle of daily life.
Note that the structural percentage of the project did not exceed 20% of the total project area, with an increase in the total green areas to reach 60% with the allocation of the rest of the project area to roads, utilities and parking spaces. The remaining percentage includes all the services and utilities that the residents need and guarantees a comfortable and practical life, including a sports club on an area of 18 acres, international schools, a “gym” and a “health club”. In addition, the project overlooks the pyramids, which gives residents a distinct vision that will not He finds it in similar real estate projects.
Dr. Manal Hussein, Chairman of the New City Development Company, said that the Eco West project marks the beginning of a new era for real estate development in Egypt. Because it does not focus on the target segment of all developers, and offers different designs that suit the aspirations of customers and satisfy their aspirations, referring to the role that New City plays in supporting Egypt Vision 2030, by increasing the company's capital during the last period to about 365 million pounds, and puts The new administration has ambitious plans to provide competitive products commensurate with the consumer's purchasing power, supported by the expertise of the new contributors in providing new financing solutions commensurate with the income of future customers, a new feature added to New City.
For his part, Ramy Youssef, CEO of New City Development Company, pointed out the importance of the Eco West project in bridging the gap in the Egyptian real estate market, which is characterized by the high demand of residential units annually, while most of the units that the private sector works to establish target a high-income segment. The "Eco West" project is the first project implemented by the private sector to meet the needs of the most in need and demand for the real estate product (middle and upper middle class), which represents about 35% of Egyptians, and this segment is still looking for a real estate product that satisfies their aspirations and fits their capabilities. The "Eco-West" project was established on it in the 6th of October City, which is consistent with the company's strategy.
Ramy explained that the "Eco West" project is the meeting point between the aspirations of customers and their needs and the purchasing power in the market, especially the youth group, which has become 60% of the population of Egypt, which led to an increase in the demand for housing units at reasonable prices, especially after registering approximately Out of 900,000 marriages annually in Egypt.
The CEO of New City Development Company revealed the company's intention to circulate the experience of "Eco West" in various governorates of Egypt, to provide this product to the largest segment of customers, with long-term plans to expand in Africa.
The "Eco West" project is ideally located in the heart of 6th of October City near a large number of different services, as the project is 5-10 minutes away from the most important commercial complexes in October, and 15 minutes from the largest tourism projects in Egypt (The Pyramids - The Grand Egyptian Museum - The Walk The new tourism project), and the development of the project is scheduled to start in the second half of the year, provided that the delivery of units will start within four years.
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