El-Etter: The company plans to inject investments worth 10 billion pounds next year
Implementation of the “Twin Tower” project in the Administrative Capital, with investments of 2.5 billion pounds
JD Holding Real Estate Development has achieved sales of 1.6 billion pounds, from the beginning of this year until the end of last August, and aims to increase it to 2 billion pounds by the end of 2021.
The company plans to inject investments worth 10 billion pounds during 2022, and is negotiating two plots of land in Ain Sukhna and the New Administrative Capital to develop two projects with residential activity.
Eng. Ahmed El-Attar, Chairman of the Board of Directors of JD Holding, said that the company is preparing to launch a hotel-administrative commercial project on an area of 2.5 thousand square meters, in the Central Business District of the Administrative Capital, with investments estimated at EGP 2 billion.
Al-Eter added to “Al Borsa” that the company is awaiting the completion of the engineering drawings and designs in preparation for the project’s launch.
He explained that the company is implementing two projects in the Downtown area in the Administrative Capital, with investments amounting to 4 billion pounds, including the “Tower Ten” project on an area of 2.2 thousand square meters, with a ground height and 14 floors, and comprising 600 units, with a hotel commercial administrative activity, with investments amounting to about 1.5 billion pounds.
He pointed out that the company is also implementing the “Twin Tower” project on an area of 6,000 square meters, with investments of 2.5 billion pounds, with a ground height and 15 floors.
He said that the company has started excavation work, and is awaiting obtaining licenses to start construction, and the “Horazine Consulting Engineering and Architectural Design” company is undertaking the work of the general consultant for the two projects.
El-Etter added that the company achieved sales of 1.6 billion pounds, from the beginning of this year until the end of August 2021, and targets 2 billion pounds in sales by the end of the year.
He explained that the state’s decision to compel developers not to offer their projects for sale until after 30% of them have been implemented represents a “filtration” for companies that do not have the financial solvency that qualifies them to develop projects commensurate with the volume of business in the Administrative Capital. It will lead to liquidity in the movement of buying and selling within the real estate sector.
He pointed out that the state’s support for investors in the Administrative Capital represents the turning point for many companies, including JD Holding, which increased its business volume after announcing its merger with Abu Dhabi National Company last November.
He said that JD Holding was established after merging the two companies, “Jebal” and “Abu Dhabi National Company”, which are specialized in building towers, and it includes under its umbrella several Egyptian and Emirati companies within the contracting, construction and building activities.
The article was written in Al Borsa newspaper with 1.6 billion pounds of sales for JD Holding in 8 months.