EGYPT – El Baron Developments, an Egyptian Real Estate, has launched a new project, Vigor, in the Downtown area at the New Administrative Capital, eastern Cairo, with a total investment of approximately EGP 650 million (US$41.52 million).
According to Chairperson and Managing Director Hazem Zarif, the Vigor project is a commercial and medical administrative building situated on 4,700 sqm. It comprises 11 floors; each is 1,138 sqm. The project will offer units with various sizes.
A contract was signed with the KAD Commercial Property Management responsible for managing the project after its completion in order to maintain an ideal quality of the project and to achieve a distinguished return on investment for clients.
KAD is one of the largest companies in the management of commercial and administrative facilities.
Furthermore, El Baron Developments has signed a cooperation protocol with Elsewedy Electric to provide cables needed to implement a strong infrastructure for the project. In addition, El Baron contracted with the engineering consultant Mohamed Talaat to design the project.
El Baron Developments has completed all necessary market studies to implement, design, and market the project, according to Zarif.
The new administrative capital is a promising national and investment project that is being constructed with an ambitious vision and a clear plan to develop a smart and technological city capable of global competition.
Moreover, with the transfer of employees to the government district in new capital, which is scheduled for this year, the capital is witnessing more investments by local and foreign developers, he concluded.
El Baron Development is an Egyptian Real Estate that was established in early 80’s, El Baron developments started their projects in Nasr city with a total number of 80 projects between residential and commercial projects.