Next Home Development will direct new investments worth EGP 2bn to its expansion plan in Egypt’s real estate market during the coming period, according to CEO Mostafa El-Tonsy.
El-Tonsy also said that the company is currently investing EGP 500m in its Business Arena commercial project, located in Mokattam, East Cairo.
He noted that the company has developed a new expansion plan in line with its Board’s vision, and which is consistent with its goals in the local real estate market. It includes directing EGP 2bn worth of investments in a number of new projects that the company intends to develop during the coming period.
El-Tonsy revealed that the company will develop a new project in the New Administrative Capital (NAC) in 2021.
Spanning over 4,000 sqm, Business Arena is the most recent of the company’s projects. It is the largest administrative commercial complex providing units of different areas, with customers able to make use of a range of payment methods for more than one category.
The development also has a private management company on board that will take care of the mall and the commercial walkway, whilst also following up the quality of service, he said.
El-Tonsy added that the designs of the Business Arena project’s commercial buildings are divided into a commercial walkway that includes several hypermarkets, a restaurant and café area.
The total area of the project stands at 3,000 sqm, and includes administrative buildings divided into medical complexes, administrative offices, and reception and waiting areas for customers. The administrative units are located on a total area of 1,000 sqm, divided into several different areas to suit all businesses and companies.
El-Tonsy disclosed that the company’s expansion strategy constantly seeks to develop business and investment opportunities through strong partnerships which will be announced soon.
The company will announce a joint contract with an Egyptian bank, which will act as a strategic partnership and formal alliance. The partnership will contribute to advancing the economy and create more job opportunities, both direct and indirect, with the aim of developing residential and commercial projects.