Namaa for Development and Real Estate Investment studies will be launching a productive real estate investment fund that has a periodic return for the company’s projects similar to global funds, which directly contributes to the encouragement of Egyptian and foreign capitals to invest in the sector.
Mohamed Al-Nawawi, managing director of Namaa for Development said that these funds are considered an important element for developing property market, through the benefit of the client by purchasing the company’s units.
Al-Nawawi noted that the proposed fund develops, manages, and leases the company’s buildings.
He further revealed that the company is currently developing the Capital One project in the New Administrative Capital (NAC) with EGP 2bn in investments.
Capital One is an integrated, environmentally-friendly, administrative project that suits the needs of local and international companies, he said.
He pointed out that the company’s strategic plan focuses on providing different and new services in the market, as well as creating a new vision for investment in real estate and providing a distinguished real estate product. It does so through simulating global investment funds mandated to develop and manage production while generating real estate income periodically, which contributes effectively to real growth in the local market, maximising property value.
For his part, Karim Moursi, vice president for Development and marketing at the company, said that Capital One spans over 60,000 sqm with investments amounting to EGP 2bn.
The project provides various administrative space, on a 90,000-sqm built-up area in the Central Business District of the NAC.
Moursi added that the company for the first time will offer a part of the Capital One project for sale, and keep the remaining space to add it to the income-generating real estate portfolio that meets the needs of multinational companies. Therefore, the project will be managed according to the highest levels and standards of service, to ensure the continuity of the project and coordination between owners and tenants to achieve higher returns to all parties.
He further noted that the entire building will be handed over in 2023.