Al-Bustani Real Estate and Tourism Development Company announced the development of a project in partnership with Yasser Abdullah Real Estate Development Group, which is the NOVA Square project in New Cairo City, with investments of 1.5 billion pounds.
Eng. Mohamed Al-Bustani, Chairman of Al-Bustani Development Company, said that the project is located on an area of 2376 square meters, and is located in the New Narges area, in the heart of the Fifth Settlement, directly on Gamal Abdel Nasser Axis. It is a commercial and medical project that provides various units with different areas, to suit all customers' needs and purchasing power.
He explained during the conference held by the company today that the areas of the commercial units in the project range between 45 and 74 meters, while the areas of the medical units range between 25 and 40 meters. The company also offered flexible payment systems that suit customers, and contracted with a number of major consulting and specialized companies to ensure the implementation of the project with the highest quality standards, as a contract was signed with Hussein Sabour Engineering Consultant Office and Incomercial Office for Management and Operation.
He pointed out 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, as 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.
He added that the first phase was sold with the start of offering units in the project with a contract size of 700 million pounds, and the project will be delivered within 3 years, noting that the presence of this administrative project within the Fifth Settlement area 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, explained 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 an operating manual.
