Nile Real Estate Development, one of the largest real estate development companies, announced the contract with Etqan for financial and marketing consultancy, as a financial and marketing consultant, to launch the Nile Business City project in the New Administrative Capital, which is the third tallest tower in Africa, and the highest and largest vertical city in Africa.
The contract was signed by Eng. Mohamed Taher, Chairman of the Board of Directors of the Nile Company, and Bassem El-Sherbiny, CEO of Itqan Company.
Eng. Mohamed Taher, Chairman of the Board of Directors of the Nile Real Estate Development Company, said that this cooperation is not the first between the Nile Company and Itqan Company, and the relationship between the two parties is strong and extended, praising the role of “Itqan” in preparing the marketing and financial studies for the project, saying, “Itqan helped us a lot in preparing the marketing studies.” The project’s finances and the assistance of the administrative capital’s planning experts.”
He added, “Itqan has information about every inch of the administrative capital. The plot of land for the project was selected based on careful and accurate studies.
The project was also provided with new and innovative ideas based on studies conducted by Itqan Company.”
He explained that the project’s financial studies procedures witnessed many challenges due to the enormity of the project and its many details and we tried not to add them and charge them to the price per square meter for the final customer.
Taher confirmed that the project covers an area of 296 thousand square meters, equivalent to about 70.5 acres, and is the highest private sector skyscraper in Egypt with a height of 56 floors, and the project consists of 4 separate towers.
For his part, Bassem El-Sherbiny, CEO of Itqan Financial and Marketing Consulting, praised the cooperation with the Nile Company to launch the largest real estate project in the Egyptian market, the Nile Business City project, noting that the contribution to the launch of the project is a big step and a strong addition to the Egyptian market.
He added that the project is the jewel of the administrative capital’s crown and the midpoint of the Green River, and “Itqan” made an unprecedented effort so that the project would come out in the best marketing and financial form.
Research and studies were prepared from different countries around the world to get the best ideas for the building.
He pointed out that the Administrative Capital market needs new, innovative and unconventional ideas in light of the fierce competition it is witnessing, which is provided by the Nile Business City project, which is a unique and distinctive project that keeps pace with the latest developments in the world, whether in terms of designs or construction methods.
Meanwhile, Ahmed Abdel Aziz, General Manager, and Financial Consultant at Itqan Company said that contracting with the Nile Company for the Nile Business City project represented a great challenge due to the enormity of the project, which is the second-highest skyscraper in Egypt and needs preparation, equipment and studies of a special kind in order to come out in the best picture and achieve the highest returns. Investment for clients and the company.
He added that among the stages of the pricing process is reviewing the prices of similar projects, but this project is unique and has no equal in the market, and it was a challenge for us to prepare the optimal pricing because of all the advantages and details it enjoys.
He pointed to the access to payment systems and very distinct prices targeting the largest segment of customers.
Itqan provides a package of advisory services, which consists in preparing comprehensive marketing research, analyzing competitors, developing a strategic vision for the project, supervising the follow-up of marketing activities, and implementing the marketing plan.
It also provides financial advice and includes developing and reviewing the financial study in all its stages, including setting pricing and payment systems, supervising the development of financial plans, preparing budgets and managing cash flows, supervising the building and development of the company’s internal financial management team, providing technical support, following up on payment and pricing systems and updating them periodically and building a system Reports to follow up the company’s financial performance.
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