UDG Developments achieves EGP 200mn of contractual sales of its E Tower two weeks after the project’s launch, Invest-Gate reports.

Board Member and Managing Director of the Commercial Sector at UDG Developments Tarek El Gedawy reveals that E Tower  has witnessed high demand due to its distinctive location in CBD, its architectural design, and the various unit sizes and spaces offered.

E Tower is UDG Developments’ first project in the Egyptian real estate market; the company is currently planning to launch a number of projects worth EGP 5bn across several new cities soon. In H1 2022, Gedawy confirms another project launch at NAC as well.

Furthermore, El Gedawy explains that there is a great demand for the administrative and commercial units in NAC, especially in the CBD. He expects prices at NAC, specifically, to increase by 10% to 15% during the first quarter of next year.

Scheduled for delivery in four years, the 14-storey E Tower mall spans 14,000 sqm at an investment cost of EGP 750 mn, El Gedawy reveals. E Tower features a reception area, a cafeteria, and a large meeting room.