Maqam Misr launches 5 EAST TOWER project at New Capital, with EGP 670m investments

Company has contracted with YBA office to be engineering consultant for the project, and providing payment plans for up to 9 years, says Al-Saeed Shaaban

Maqam Misr has a vision to develop a distinctive and different project in New Capital, says Yasser Al Beltagy

With more than 25 years of experience in real estate development and project management sector, Maqam Misr Developments has launched its new project, 5 EAST TOWER, in Downtown area at New Administrative Capital, with investments worth EGP 670m, as part of the company’s plan to seize leading investment opportunities in one of the distinguished national projects.
Eng. Al-Saeed Shaaban, Chairman of Maqam Misr Developments, said that the company has a clear vision to provide innovative and distinctive projects in real estate market, in cooperation with a group of experts and specialists to develop these projects.
Shaaban added that the company focuses on choosing the best contracting companies and the best engineering consultancy offices as well as project management and operation companies.
He noted that the 5 EAST TOWER project is located on 3,585 sqm, and the project overlooks a main axis with a width of 75 meters, as well as oversees an open garden with an area of 28,000 sqm. The ground floor includes commercial units and restaurants, and the first floor includes a food court area. Meanwhile, floors from the second to the eighth would be allocated for administrative units, and from the ninth to the twelfth floor would be elite administrative units for the first time in the New Administrative Capital.
He pointed out that sizes of administrative units start from 36 sqm, and commercial units start from 22 sqm.
The company’s chairman explained that Maqam offers payment plans starting from 0% down-payment and installment period up to 9 years, which are carefully studied based on market studies to determine the payment plans that suit target customers, commented, “market studies are very important at every phase of project development.”
Maqam Misr has assigned Yasser Al Beltagy Architects (YBA) to play the role of an engineering consultant for the project chaired by Yasser Al Beltagy, one of the specialists in designing residential towers with a unique architectural style that guarantees their engineering efficiency and attractive architectural structure. Moreover, the company has contracted with the Emirati company Eltizam Group to manage and operate the project. Eltizam Group is one of the largest project management and operation companies, which has experience and previous business that supports contracting with it, he disclosed.
Shaaban explained that project management after its operation is one of essential elements to maintain the project’s investment value, quality and value for clients.
He highlighted that the client who invests in the 5 EAST TOWER project guarantees the success of his investments since the first day of the contract. Over and above, the company is keen on accuracy and excellence in all details of the project to guarantee a renewed investment return for client in the project. The project is located in a distinguished place and is developed by a number of specialists in different sectors, in addition to the company’s previous work in constructing unique projects in local real estate market.
He revealed the most prominent features of the company’s expansion plan, added that the company plans to develop a residential and medical project in the New Capital, stressed that the company plans to be of a world-class in developing ideal investment opportunities and providing innovative real estate solutions to local and global market.
For his part, Eng. Yasser Al Beltagy, founder and chairman of the YBA stated that Maqam Misr has a unique vision to develop a different project in the New Capital, and cooperation with it in its new project comes to transform this vision into a real and distinctive project in the New Capital.
Al Beltagy said that the YBA office will be an engineering consultant for the 5 EAST TOWER project, which is one of the promising projects in which distinction has been taken into account in all its details.
He elaborated that YBA has succeeded during 26 years in implementing a diverse and huge package of residential projects, coastal resorts, hotels, commercial centers and residential towers, with major companies inside and outside Egypt.
“The YBA office undertook the design work for 8 residential towers within the New Alamein Towers and the entertainment district, and 7 residential projects and 28 commercial and administrative projects were designed in the New Administrative Capital. Each project has an independent personality and a unique character that makes it not repeated in the company’s projects or real estate market projects,” Al Beltagy said.
The New Administrative Capital is one of the most promising national projects that includes investment opportunities that attract all local and foreign developers. The Administrative Capital for Urban Development (ACUD) company provides strong support to companies working with it, besides the government’s move to its headquarters in the New Capital increases chances of attracting companies and customers to be in the city, he concluded.