Just Development is planning to launch its latest project in the New Administrative Capital’s Downtown, in partnership with Inter Build Developments, with targeted sales of EGP 2bn, by September.
Eng. Osama Gomaa, Chairman of Just Development, said the project is located over 4,150sqm, in one of the most distinguished locations. The project overlooks two main roads, one of which is the Western Axis, and also overlooks a large public parking.
He added that the project includes three basement and 12 floors, each with an area of 1,350sqm, with commercial, administrative, and serviced apartments portions.
Eng. Ahmed Gomaa, Vice Chairman and Managing Director of Just Development, said that the project’s investment cost is estimated at approximately EGP 1 billion, noting that the project is in the final design phase.
Eng. Ahmed Gomaa confirmed that the company aims to begin construction on site early next year. This commitment is consistent with the company’s commitment to meeting deadlines, based on the founders’ strong experience in the construction and development sector, as well as the companies’ strength in design, supervision, implementation, and management.
Mr. Ashraf Raef, Chairman of Inter Build Developments, said that the partnership with Just Development stems from a belief in the company’s strength and reputation in the market, as well as the extensive experience of its board of directors, which will positively impact the new project.
He added that the company has collaborated with major names in the construction sector, assigning the designs to Archrete and the engineering consultancy to Identity. A contract is currently being signed with a major management company to manage and operate the project.
Mr. Nabil Qirat, Head of the Commercial Sector at Just Development, said that the company is relying on unconventional sales and marketing plans for the new project, especially given its strong competitive advantages.
He added that the company offers flexible payment plans and strong incentives for customers, including repayment periods of up to 12 years, returns on down payments, and mandatory rent. This is in addition to attracting new customers who can purchase and invest in small spaces within the project, and rental returns will begin to be paid to customers one year after delivery.
Qirat confirmed that the company has a large customer portfolio and aims to attract new customers from both inside and outside Egypt. The company is also offering strong offers upon the project’s opening, which will be announced soon.
