Al-Bustani Company has created a great brand for itself in the Egyptian real estate market through its interest and focus on developing and modernizing the quality of life in urban communities.
The company sought to build innovative and integrated residential communities and was able to enter into a partnership with Yasser Abdullah Real Estate Development Group this year to develop the NOVA Square project.
For his part, Eng. Mohamed Al-Bustani, Chairman of the Board of Directors, said during the signing of the partnership contract at a press conference that the project covers an area of 2376 square meters with an investment volume estimated at about 1.5 billion pounds.
He explained that the project is located in the New Narcissus area, in the heart of the Fifth Settlement directly on Gamal Abdel Nasser Axis, as this area is characterized by a large population density, which makes buying a unit in the mall a great investment opportunity.
He added that the project provides various units with different areas, to suit all customers' needs and purchasing power, as the areas in the commercial units start from 15 meters to 74 meters, while the medical units start from 25 to 40 meters.
He pointed out that the company has developed flexible payment systems that suit customers' income, which are 10% down payment and installments up to 7 years.
He stressed that a number of major consulting and specialized companies have been contracted to ensure that the project comes out in its best form and is managed and operated in the best way, and to achieve the highest investment return for customers, as Hussein Sabour Office was contracted as an engineering consultant and Incomercial Office for management and operation.
Al-Bustani said that despite the global economic challenges and the high prices of building materials and the cost of implementation, the company is committed to its strategic plan for 2024 and is keen to implement and deliver with the highest quality standards.
For his part, Eng. Yasser Abdullah, Chairman of “Abdullah Group for Real Estate Development”, stressed the importance of the partnership with “Al Bustani Company” to develop one of its largest projects in New Cairo, given the importance of this project in the real estate sector in Egypt.
He explained that the mall is one of the best administrative urban complexes in the region, due to the advantages of “NOVA Square” in terms of prices, area, location, modern design, and others, noting that the first phase was sold with the start of offering units in the project with a contract size of 700 million pounds, stressing that the project will be delivered within 3 years.
He added: Since quality is what we aspire to, the partnership with Al Bustani achieves more success for the group for its real estate development plans in Egypt, and therefore the presence of this administrative project within the Fifth Settlement area and its attractive aesthetic and modern appearance is considered an essential element that reflects the level of quality expected from the partnership.
Eng. Mohamed Shehata, Chairman of the Board of Directors of Incomercial Management and Operation Company, welcomed the cooperation with Al-Bustani and Yasser Abdullah Companies, given their prestigious position in the Egyptian market, stressing that the contract includes conducting all marketing and sales studies for the project, developing an operational engineering design, developing an activity distribution plan, a housing and leasing plan, and a project management plan, in addition to developing a guide for the operation process.
