PHOTO
Cairo, Egypt: During a management’s site visit to the project, SODIC’s Managing Director Magued Sherif provided an update on the progress of Eastown District New Cairo “EDNC”- the commercial component of Eastown located directly on Road 90 and SODIC’s largest non-residential offering in East Cairo.
EDNC is the commercial component of Eastown, SODIC’s mixed-use development strategically located directly on road 90, the main street and central axis of New Cairo, and immediately adjacent to the American University in Cairo (AUC).
EDNC brings 90,000 SQM of prime commercial and retail space. Since breaking ground onsite the project, SODIC has awarded over EGP 1.7 bn in construction contracts with construction on schedule for delivery to start in 2021. Over 50% of the construction work has been completed including all buildings’ concrete skeletons.
Destined to be New Cairo’s newest upscale retail destination, EDNC’s retail complex constituting of 22,250 SQM of total built up area features a mix of ground floor and single story buildings designed with a highly creative and playful approach. This upcoming leisure destination will be home to some of Cairo’s finest restaurants, entertainment concepts and fashion brands, sited along a vibrant promenade with access to a beautiful 13,631 SQM park which will feature an amphitheater, water features and workout hub.
Composed of circa 63,000 SQM of built up area, EDNC’s office complex is composed of cantilevered 4-storey buildings, developed sustainably with buildings’ facades featuring high-performance curtain wall double- glazing with high-quality insulated precast concrete panels to encourage a healthy productive environment with a reduced carbon footprint. The façade design is elevated on a glass base intersected by abstract cut-outs, creating vantage points for each building while ensuring a sense of unity within the entire complex. The unique buildings overlook a central piazza connecting to the main spine of the retail hub.
“This project is unlike any other in Egypt, the cutting edge design, construction quality, location and development concept will set it apart as one of a kind. We are very excited about this one coming online” said Magued Sherif, SODIC’s Managing Director. “This project comes in line with the company’s strategy to largely retain prime non-residential assets to contribute to recurring income in the future. With its prime location and offering EDNC will serve as the cornerstone of SODIC’s recurring income portfolio” added Sherif.
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
