Egypt’s real estate company Gates Developments has announced the launch of its latest project, Space Commercial Complex, in Sheikh Zayed in West Cairo.
The project’s total investment is worth nearly EGP 5bn and is built on an area of 6-8 feddan. The Space Commercial Complex is a commercial, administrative, and medical project.
Hassan Nasr, CEO of Gates Developments, stated, “Real estate sector experienced a remarkable leap during the recent period that led to huge growth rates, considering the state’s goal for urban expansion and the development of new urban communities. Since the Egyptian real estate market is in need for more projects and has the potential to utilize a lot, the company brings a solid investment plan in the real estate market by developing a number of outstanding projects and including them in its portfolio over the upcoming period, which confirms that the real estate sector is capable of handling shocks and overcoming obstacles with the continuous support of the government. The future of Egypt for the next 10 years lies in West Cairo, which has grown to be a highly attractive location for real estate investment. Gates Developments is one of the companies that constantly seeks renewal and development by using everything new to provide a distinctive product to earn the client’s trust.”
In a press conference, Nasr added: “We studied the market perfectly and determined all its strengths and weak points. Raef Fahmy designed the project’s engineering designs to align with the study, we present a diversity of designs for the 1st time in the Egyptian real estate market depending on the experiences of our strategic partners, Inversion Consultancy and Raef Fahmy Architects to launch a distinct project that provides ultimate services to Sheikh Zayed region, with the best and most prestigious engineering and architecture designs as well as the finest global style to meet our clients’ needs and boost their trust. Additionally, we agreed with five well-known global brands to book spaces in the new trade center as well as hold partnerships with some of them, where we followed a new reversed strategy by allowing the clients to lodge and select the designs and spaces that they need before building. Currently, we’re negotiating with a number of the largest global companies recognized for their efficiency in project management.”
The Space Commercial Complex has four phases, and its delivery will begin after 3.5 years.
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