Nile Developments company is investing EGP 5bn in the 31North, the first Festival Tower project in the Downtown area at the New Administrative Capital (NAC).
The company has set an expansion plan for the coming period, which includes developing a portfolio of new projects, in line with state trends.
The company has also contracted with Contrack Facilities Management (CFM), a subsidiary of Orascom Group, to provide facility management solutions for the first Festival Tower.
This reflects the company’s keenness on contracting with major companies in all phases of construction to ensure the highest quality possible.
The company also plans to contract with major international companies specializing in managing towers, and is currently comparing between several possibilities.
Mohamed Taher, Chairperson at Nile Developments, said that the company aims to develop the project to provide a different real estate product. It is hoped that it would act as a real addition to Egypt’s real estate market, especially as the company is entering the NAC with a view to becoming a top developer.
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