Mazaya Developments announced beginning constructions of its three projects in parallel in Downtown area at New Administrative Capital, as part of its plan to speed up construction rates and advance delivery and operation to maximize investment return for clients.
Chairman of Mazaya Developments Eng. Mohamed Allam said that the company owns 3 projects in New Capital’s Downtown with a total area of 7,800 sqm. The projects are THE ROOK, the company’s first project in the New Capital and it is located on an area of 2,800 sqm, in addition to Gemini Towers Red&Blue project, which includes Red and Blue projects, on an area of 2,500 sqm for each tower.
The Gemini Towers Red & Blue projects comprise administrative commercial properties and medical clinics, located in the Downtown area and overlooking the central axis and the strip of tourist towers. The project site links all main axes within the Downtown area as well as it is near Monorail station, gold market and central park besides it overlooks the Green River.
Allam added that the project size is 2,400 sqm for each tower, and encompasses 300 units with various sizes. The project’s commercial units include cafes, restaurants and various retail activities, in addition to a fast food restaurant area, with spaces ranging from 30 to 120 sqm. Moreover, administrative part of the project includes offices with different sizes suitable for all companies with spaces ranging from 36 to 90 sqm, in addition to medical clinics with distinctive spaces and location ensures easy access to them, with spaces range between 38 to 48 sqm.
The company is cooperating with one of the most prominent consulting offices in the project, the Arcrete Studio Design. The project investments reached approximately EGP 1.2bn. The first project Red is planned to be delivered in June 2026, and the second project Blue in December 2026, he disclosed.
Allam noted that the company offers flexible and competitive payment plans with a down payment starting from 5% and a payment period up to 10 years.
He pointed out that the company has achieved 35% of the project’s sales in record time from its launch, which reflects the confidence in the company’s name and its success in constantly acquiring a new customer base.
“Mazaya Developments plans to invest EGP 600m in project construction, and will rely on self-financing and marketing proceeds to develop the project,” he said. “The company’s total investments currently exceed EGP 2bn in its three projects. Additionally the company aims to achieve EGP 1bn in sales by the end of 2022, which is the plan that is being implemented strongly.”
He pointed out that the company has a marketing and development plan that integrates them to begin construction works on the company’s first projects three months ahead of schedule, and the second project about 9 months early.
Mohamed Mostafa, CEO of Mazaya Developments, stated, “Despite strong competition in New Administrative Capital, especially in Downtown area, the company has succeeded since the launch of its projects in maintaining a strong reputation and constantly acquiring new customers in its projects, as the success of the first project supported the company’s plan to launch its second project.”
The company succeeded in achieving strong sales in its three projects in record time, and gained the confidence of clients in these projects, especially with the distinctive location of each project, its unique design, the company’s plan for operation and management after operating, besides the provision of flexible payment plans, all of which led to the acquisition of a large number of clients in record time.
Mostafa explained that the carefully studied payment plans are the password and the balance sheet that helps developer in providing liquidity for completing projects as one of the project financing mechanisms, and at the same time protects customer and is commensurate with his purchasing capabilities.
He pointed out that the company has developed executable designs, not just engineering drawings that were submitted to attract customers, but it is difficult to build. Accordingly, the project designs were developed with experts and specialists in all details, furthermore, operation process and its details since the first day of project design was taken into account.
He explained that the company chose sites of the three projects carefully and with a strong study, in order to achieve the highest return for investing clients while operating these projects. Moreover, businesses within the projects are also chosen to achieve vitality and raise volume of clients who usually visit these projects.
Mazaya Developments has initiated its business in real estate market in 2017, and since its inception, the company has developed various housing projects in separate areas in New Cairo, with a total of 33 separate projects, and a number of these projects are currently being delivered, he said.
The company focuses in its expansion plan on areas of New Cairo and New Administrative Capital, in addition to new areas where there are feasible investment opportunities for the company, as it is currently studying the launch of its fourth project, he concluded.