Dahab Development debuts 2nd phase of ITC project at Egypt’s NAC

Dahab Development debuts 2nd phase of ITC project at Egypt’s NAC

Real estate company Dahab Development announced last week the launch of the second phase of their Iconic Trinity Complex (ITC) project — its first project in the New Administrative Capital (NAC).

Chairperson of Dahab Development Nader Moawad said that Egypt is going through a historic stage, given the state and political leadership’s drive to support urban development projects and launch fourth-generation cities, especially the NAC.

Moawad also pointed out that the company is considering launching new projects during the coming period; more specifically, either a residential project on the NAC’s R8 or in the Beit Al-Watan area of New Cairo.

For his part, Vice Chairperson Youssef Nader Moawad said that the launch of the second phase of the project comes after the success of the first phase, adding that the project is located in the NAC’s MU-23 Area.

The project spans over 25,000 sqm with a 30% built-up area. Moreover, the ITC project’s total investments reached EGP 1bn and will be completed next October, he noted.

He also explained that the company follows a specific sales policy based on selling the project in phases to protect it from price fluctuations and hikes in construction cost that the market is currently witnessing, pointing out that 25%