Egypt - Maqam Misr Developments launched its new project, EAST TOWER 5, in the Downtown area of the New Administrative Capital (NAC) with investments worth EGP 670m as part of the company’s plan to seize leading investment opportunities in a distinguished national project.

Al-Saeed Shaaban — Chairperson of Maqam Misr Developments — said that EAST TOWER 5 spans 3,585 sqm. The ground floor includes commercial units and restaurants, and the first floor includes a food court area.

Furthermore, the second to the eighth floors will be dedicated to administrative units, while the ninth to the 12th floors will house elite administrative units for the first time in the NAC.

Shaaban pointed out that the size of administrative units starts from 36 sqm and commercial units start from 22 sqm, adding that the company offers payment plans starting from 0% down-payment and instalment periods up to nine years.

It is worth noting that Maqam Misr assigned Yasser Al-Beltagy Architects (YBA) to play the role of engineering consultant for the project, moreover, the company has contracted with the Emirati company Eltizam Group to manage and operate the project.

Shaaban explained that project management after its operation is one of the essential elements to maintain the project’s investment value, quality, and value for clients.

He also revealed that the company plans to develop a residential and medical project in the NAC.

For his part, Yasser Al-Beltagy — Founder and Chairperson of YBA — stated that YBA has succeeded over the past 26 years in implementing a diverse and huge package of residential projects, coastal resorts, hotels, commercial centres, and residential towers with major companies inside and outside Egypt.

He added that the NAC is one of the most promising national projects in Egypt, with investment opportunities that can attract all local and foreign developers.

He also said that the Administrative Capital for Urban Development (ACUD) company provides strong support to companies working with it, and that the government’s move to its new headquarters in the NAC increases chances of attracting companies and customers to the city.

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