Real Estate

New City Launches ECO West, Signaling New Era for Egyptian Real Estate Sector

Dubai – Masaader News

New City Developments, one of the leading real estate companies in Egypt, launched their latest groundbreaking project “ECO West” to be the first real estate project in Egypt that aims to inspire contemporary lives of generations in fully integrated communities

The launch event took place on Monday at the Pyramids, with the attendance of Dr. Raouf Ghabbour, a main investor and member of the Board of Directors of New City Developments, Dr. Manal Hussein, Chairman of New City Developments, Mr. Rami Youssef, CEO of New City Developments and Mr. Nour Othman, Head of Sales Department at New City Developments. In addition to an elite group of businessmen, the company’s strategic partners and a group of esteemed media figures and journalists. 

Eco West provides a unique experience for its residential units with a smart modern design based on a European Japanese architecture that makes best use of its land areas. The project comes in line with New City’s strategy that revolutionizes the real estate industry in Egypt, altering its patterns through creating modern housing solutions characterized by diversity and integration to meet customers’ aspirations.

ECO West is located at the heart of 6th of October City occupying a land area of 120 Acres, providing integrated and adequate housing solutions that fill the gaps between consumers’ aspirations and financial capabilities. The project targets the ambitious socio economic class within the society, as they consume a huge fraction of the total population, enabling them a satisfying living experience. 

“ECO West signals the beginning of a new era for real estate sector in Egypt. As for the first time, the project targets unserved segments neglected by other real estate developers, through integration and innovation to meet customers’ aspirations.” Dr. Manal Hussein, Chairman of New City Developments stated. 

Dr. Hussein highlighted that ‘Eco West vision comes in alignment with Egypt’s Vision 2030 to empower youths.” In addition, she revealed that “The company increased its capital to around 365 Million pounds during the last period to provide competitive residential units resonating with consumers’ purchasing power. Backed up with intellectual competency through its management and shareholders, New City Developments brings modern housing solutions to ambitious youths.”

“The importance of the project lies in bridging the gap in the real estate market, which is characterized by high demand on residential units with little adequate supply, due to the fact that most real estate projects target a certain segment of the society and disregard the Middle Socio economic Class.”  Ramy Youssef, CEO of New City Developments said about the real estate sector.  

“With youths representing 60% of the population, leading to an increase in demand for residential units at reasonable prices, especially that marriage cases are increasing reaching to 900,000 marriages annually. We believe that Eco West is the ultimate solution to fulfill the demand of the ambitious Middle and Upper Middle classes, who consume about 35% of society ” He mentioned. .

“New City aims to further spread the concept of ECO West within various governorates of Egypt, to enable this experience to most of the population with the intention of expanding throughout Africa in the long-term.” The CEO proudly announced 

With only 20% of its land mass allocated to construction, 60% devoted to green spaces, accentuating each unit, and the remaining area is occupied by numerous facilities and services, ECO WEST delivers an enhanced living experience for the residents that supports innovation and promote development. The full-fledged community incorporates international schools, sports club on an area of ​​18 acres and an open gym. In addition to the ideal location of the project which overlooks the spectacular view of the pyramids.

Eco West is a characterized by its ideal location as it is set within a proximity of a large number of different services at the heart of 6th of October City; the project is 5 minutes away from the Mall Egypt, 10 minutes from the Mall of Arabia, and 15 minutes from the largest archaeological and tourist area in Egypt (the Pyramids – The Grand Egyptian Museum – The New Tourist Walk).  The development of the project is scheduled to start in the second half of 2021, provided that the delivery of units will start within four years.

 

 

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