BROUQ Developments launches its second project at the New Capital after the great success of its first project
BROUQ Developments, in partnership with TROJAN the land owner, announced the launch of its latest CENTOO project in the New Administrative Capital.
CENTOO is an administrative project in a privileged location in the financial district on a total area of 4,582 SQM and is located on the central axis of the New Capital, in front of the Egyptian Stock Exchange, next to Central Bank of Egypt and the central station of the monorail as well as the electric train.
Ibrahim El-Syed, BROUQ Developments’ CEO said that the company is launching its latest project in the New Capital within the framework of the company’s plan to expand in the Egyptian market, and in support of the state’s plans for urban expansion and the establishment of fourth-generation cities.
El-Syed added that the company is launching its second project in the New Capital after the great success of its first project in the same area, “Spark Capital Insight”.
He pointed out that the site of CENTOO was chosen after careful studies, and the financial district in the Administrative Capital was chosen because of its promising investment opportunities, achieving higher and faster returns on investment.
He noted that the project had already obtained a building permit and excavation work had already begun, before offering the project in the market in support of the mutual trust between the company and its customers.
The company’s CEO revealed That UNII is the project’s general engineering consultant. UNII is one of the largest consulting companies locally and internationally, which is responsible for designing the project, to ensure the launch of a distinct real estate product that meets all customers’ needs.
He also pointed out that BROUQ has signed with Etqan, the financial and commercial consultant for the project, which is the largest company working in this field in the Egyptian market owning a great deal of experience in the New Capital market.
In addition, a contract was signed with RE’AM for asset management headed by Dr. Salah Shady, to review the designs and supervise building management from the first moment.
He also pointed out that the company is cooperating with Trojan as a land owner and general contractor for the project, which is one of the largest ready-made concrete companies in Egypt, as it has more than 15 years of experience in general contracting and real estate investment.
For his part, Basem El-Sherbiny, CEO of Etqan for Financial and Commercial Consultations, praised the cooperation with BROUQ, stating that it is one of the committed companies that makes a strong addition to the New Capital market.
El-Sherbiny added that Etqan has intensified its efforts so that the project will come out in the best commercial and financial form, besides, accurate research and studies have been prepared to get the best outcomes for the project.
He highlighted Etqan’s endeavor to make the project a success and create a competitive advantage in the New Capital.
Etqan has contributed to the launch of more than 28 new projects in the most distinguished areas of the New Administrative Capital and provided its services to more than 50 companies in 10 countries around the world. In addition, Etqan has trained 45 marketing and sales teams to represent a strong addition to the Egyptian market as a whole.
Dr. Salah Shady, Chairman of RE’AM, explained that the architectural design of CENTOO provides a large landscape area. Additionally, the project overlooks one of the largest parks in the Financial District, and the design carefully provides dimensions and appropriate services for administrative use with attractive modern facades. The management company has considered providing all services to the building residences and visitors alike.
BROUQ developments has emerged from an alliance and cooperation between three of the largest companies operating in the Arab Gulf region, namely, Qhsp, a Qatari company, Alfada, an Emirati company, and NBS HOLDINGS. Moreover, the alliance has a long experience in the real estate industry with around 30 years, during which it has developed about 100 diverse projects ranging from residential, commercial, recreational and towers, in the UAE, Oman, Qatar, Morocco and London, with investments amounting to $5bn and a total area of about 1,000 acres.
The alliance has recently launched a new project in Morocco that lies over 560 acres for housing, entertainment, tourism and education. It is an integrated project with an investment that reached €4bn.