HDP launches its first project “Terrace” in Sheikh Zayed

Mohamed Elwi: Terrace is a suitable start to commensurate with the company’s volume striving to be at the market’s forefront

The project includes more than 700 units in the most privileged locations in Sheikh Zayed and payment methods up to 8 years

Housing &Development properties Company(HDP)- the investment and marketing arm of Housing and Development Bank- launched its first project in the real estate market “Terrace” in Sheikh Zayed City, as part of a series of major projects that it plans to launch in the coming period, after the bank launched it officially a few days ago, to be the most powerful beginning in the sector, as it plans to be among real estate pioneering companies, due to its success factors, as being an investment arm for one of the most important and oldest banks in the Egyptian market, in addition to having a strong work team.

Amgad Hassanein Chairperson of HDP, said that the company was established to be the marketing and investment arm of the Housing and Development Bank(HDB), and to be responsible for developing and marketing real estate products in cooperation with all subsidiary companies of the Bank, in addition to providing an operational service for projects after their implementation, besides offering a variety of services to its partners from developers and clients.

He pointed that the company adopts an ambitious work strategy to be part of the current urban development and expansion in real estate market, as it starts working on projects affiliated with the bank, until it expands by working on other exclusive projects in real estate market as part of its future plan, which will be distinctive projects that suits the company’s plans.

Hassanein stated that the copmany is ready for partnerships with the land owners authorities and working on determining the appropriate activity for the project land, supervise the design, determine the appropriate payment systems, and operate and manage the projects, besides the company will launch a separate company for each project it works on with another company.

Mohamed Elwi, CEO of Housing & Development Properties(HDP) explained that the company’s strong beginning guarantees it to impose a distinguished position in the real estate market, and helps in achieving strong success in record time, as the company is based on its ownership of one of the powerful banks- the Housing and Development Bank-, which owns a series of successful companies in a number of fields that provide real estate and financing services in an integrated manner and the new company includes qualified human cadres to work professionally in all the company’s internal sectors, and seeks to be at the market’s forefront.

He added that “Terrace” project is located on a high hill in Sheikh Zayed City, on an area of 31 acres, and surrounded by all the services that achieve an integrated life for clients within the project, as it is only 5 minutes away from Nile University, Mall of Arabia, Al-Safa Hospital and near the Monorail station that leads to the New Administrative Capital, and the project includes apartments of various sizes to suit the needs of the target segment of clients.

Elwi noted that the project includes more than 700 housing units according to various models, with ground and 3 floors, ground and 4 floors height, and it is planned to be marketed within two years, as the company has a marketing plan depending on gradually selling, in order to prevent having a gap between the selling price and implementation costs, and it is one of the factors that reflects the experience and the strength of the financial position, as the project will be delivered within 4 years.

He pointed out that the project includes many services and luxury elements that achieve the quality of life and joy of living within the project, as the percentage of buildings in the project is only 16%, and the rest are green areas that achieve visual and psychological comfort for the client, in addition to the presence of a sports walkway and a social club.

He showed that the company offers smart and distinguished payment systems for the project, that have been studied by a specialized experienced team to develop payment mechanisms that suit the purchasing power of targeted clients, and at the same time achieve balance with financial plans to provide cash flow from marketing revenues, explaining that the company offered payment period up to 8 years for this project.
He added that the company had inaugurated two branches, one in 6th of October city, and the other in New Cairo, to market a package of projects in the regions of East and West Cairo, assuring that the company owns a team that includes experienced cadres in the field of real estate marketing and worked in marketing many major projects, confirming that the company will coope