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Company plans to invest EGP 2bn in New Capital and New Alamein, says Gebily
Managing Director of CCR Developments Remon Taghian said that the company has carried out an administrative restructuring with the aim of cooperating with successful leaders in a number of sectors within the company to implement its expansion plan for the coming period. The restructuring process includes the appointment of Remon Taghian as Managing Director , and Said Gebily as Chief Commercial Officer.
Taghian added that the company started its business with a shareholder structure that includes a number of investors with varying partnership rates. Recently the largest portion of the company's shares was acquired by businessman Adel Zarif, which was followed by an administrative re-structuring of the company in order to develop a new ambitious and expansion strategy for the coming period.
He pointed out that the company has begun concrete works in its Frontgate project in New Administrative Capital (NAC).
Spanning over 4,055 sqm, Frontgate comprises commercial and administrative units besides serviced apartments, as well as, consists of eight floors, he noted, elaborated that it is planned to start handing over the project in September 2023 and to complete the delivery of the entire project in early 2024.
He further noted that CCR Developments has managed to sell out 50% of the project; furthermore, the company is marketing the rest during the project completion period.
In implementing its new project, the company relied on long experience and market studies to follow up on market changes and continued customer needs, in addition to make use of the experience of businessman Adel Zarif, who has more than 35 years of experience.
For his part, Chief Commercial Officer Said Gebily said that CCR Developments has a plan to invest EGP 2bn in the NAC and New Alamein in the coming period, added that the company is studying some investment opportunities to choose plots of land to carry out its investment plan.
Gebily revealed that the company plans to develop a coastal project in North Coast or New Alamein cities.
The ground, first and second floors are allocated for commercial units, and the third, fourth, fifth and sixth floors for administrative units and clinics, meanwhile, the seventh floor is allocated for serviced units, he elaborated.
“The company has recorded strong sales during its participation in Nextmove exhibition, during which it provided exceptional special offers that attracted strong customer demand during the exhibition period,” he explained. “Additionally, the company plans to introduce new payment systems for periods up to 15 years, in addition to offering payment programs that guarantee an investment return of up to 75% for customer.”
He stressed the importance of investing within state-owned projects namely NAC and New Alamein due to confidence in cooperation with the government and clarity of investment requirements, highlighted that the state implements a strong infrastructure network in its projects.
CCR Developments plans to participate in Al-Ahram Real Estate Exhibition, which is scheduled to be held by the end of next month, as part of its plan to communicate directly with its customers and boost sales, he concluded.
© Press Release 2021
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