EGYPT – Brouq Developments, an Egyptian-Gulf Investment Company, has launched its Spark Capital Insight project in the New Administrative Capital (NAC), with investments worth EGP1.5 billion (US$95.48m).
Marketing Director Helal Mohsen said that the project was built on an area of 8,000 sqm in the MU23 area of the NAC. It is located at the intersection of the Al Amal Axis and the Bin Zayed Axis and overlooks the Green River.
The project was built as a commercial-medical-administrative tower providing several services, including the largest food court on the Green River, hanging restaurants, dynamic elevators, and display screens, among others.
Mimar Engineering Consultancy is in charge of developing the general plan, as a result of its previous work and experience with major real estate companies in the local market.
Mohsen noted that the company plans to direct EGP 8 billion (US$509.21m) of investments in Egypt’s real estate market, in line with the country’s ongoing urban development, which attracts all developers to invest in these cities.
He emphasised that the company offers various and distinct payment systems to customers, starting from 10% down-payment and payment facilities of up to about 14%.
The company provides customers with an electronic application that enables them to get acquainted with the project, view all units, and choose a specific one of their choice. The app is in line with the state’s orientation for digital transformation.
The company has started implementing the drilling works at the project before it is officially marketed, despite it being scheduled for delivery by 2024. This illustrates the company’s financial solvency.
Brouq Developments is the product of cooperation between: the Qatar High Speed Projects (QHSP) company; the UAE’s Al Fada Contracting and General Maintenance; as well as NBS HOLDINGS. All of the companies have strong experience in the field of real estate development.
Brouq Developments brings to Egypt more than twenty-three years of regional excellence, spanning the Arabian Gulf and North Africa with iconic projects, renowned for their highest standards of quality.
NBS Holding, in collaboration transfer their global standards, alongside their unmatched knowledge to the Egyptian market by investing in an impressive portfolio of land banks across strategic locations in Egypt with an investment worth 8 billion Egyptian Pounds.
“By relying on insightful research to identify ever-evolving market trends, BROUQ Developments is dedicated to fulfill the contemporary aspirations of modern communities, as well as varied lifestyles by putting integrated solutions under one comprehensive roof, so they can effortlessly thrive,” the company said in a statement.