Abaza, honorary president of Taj Misr Developments and head of the Arab Affairs Committee in the House of Representatives, said that the company was interested from the first day in starting work and focusing on completing projects before the specified time. He added that Taj Misr was able to gain customer confidence through its commitment to completing its projects with the highest quality and in record time, despite the economic conditions, high prices of building materials, and inflation, which greatly affected the project implementation rates of a number of developers. However, Taj Misr’s financial solvency and accelerating the pace of implementation helped it achieve Overcome these crises. Abaza pointed out that the government’s interest in overcoming the obstacles facing developers played a major role in the success of the New Administrative Capital project and its attracting a large number of Egyptian and Arab investors, stressing the need for companies to commit to implementing projects on the specified dates and in accordance with the quality standards approved by the New Administrative Capital Company. Fouad Abaza said that the company did not think about presenting a traditional real estate project, but rather paid attention to the service aspect as well, not only in providing basic and entertainment services, but also paying attention to education, through Al-Fouad International School, which was built according to the highest international quality standards in accordance with modern education systems to provide the residents of the Administrative Capital have a distinguished educational edifice. Al Fouad School, located on an area of 45,000 square metres, in front of the main gate of the Olympic Village, is owned by Al Fouad Educational Buildings, and has a capacity of 2,500 students, and is scheduled to begin receiving students in the 2024 academic year. For his part, Mustafa Khalil, Managing Director of Taj Misr Developments, said that the company succeeded in reaching the highest implementation rates in the R8 with a commitment to implementing the project facilities. Pointing out that the company succeeded in marketing the four projects and completing their sales. He added that 1,000 units are being delivered to customers in the Dejoya 1,2,3 projects out of a total of 2,800 units, pointing out that the Dejoya 1,2,3 and Ezdan Mall projects are scheduled to be fully delivered in 2024. He pointed out that the company succeeded in marketing 80% of Taj Tower project in the central business district and reached 18% of the constructions. Khalil added that the company aims to pump EGP 5 billion pounds into the construction by 2024, and also aims to achieve EGP 16 billion pounds in sales, while the company achieved EGP 14 billion pounds in sales from the New Capital and Zayed projects during 2023. Taj Misr Developments owns 3 residential projects on an area of 67 acres, with a total of 93 buildings containing 2,837 residential units. It also owns several commercial and administrative malls, Strip Mall, Taj Tower, and Ezdan Mall, with a total area of 60,000 square meters. It includes more than 2,111 commercial and administrative units and medical clinics in several different areas such as the Downtown District, the Central Business District (CBD), R7 and R8. Ezdan Mall is located in the tourism and entertainment district, in front of the Al Masa Hotel and the monorail station, in the most exclusive areas of the Administrative Capital. The mall is entirely commercial and is built on an area of 10,450 square meters. It includes a ground floor and 5 recurring floors, and includes 160 commercial stores with areas ranging from 30 to 140 square metres. DEJOYA 1 Compound is located on R8 in the Administrative Capital, on an area of 23 acres, with investments estimated at about 2 billion pounds. DEJOYA2 Compound, on an area of 10.71 acres, in the eighth residential district R8, DEJOYA2 Compound, the Administrative Capital, enjoys its distinguished geographical location, which is close to vital and service areas, in addition to the designs inside it that are based on modernity and modernity. DEJOYA3 Compound, is spread over 33 acres, in a prime location in R7 next to the Diplomatic Quarter, and minutes away from the Administrative Capital International Airport, comprises of 46 residential buildings. Taj Tower project, is overlooking the iconic tower and the main Bin Zayed axis. Taj Tower is located in the central business district, and consists of 47 floors, on an area of 8,058 square meters. Dejoya Zayed project is also being implemented in Sheikh Zayed City on an area of 144 acres, and includes villas and units with a total target sales of 32 billion pounds. The project includes two commercial malls, social clubs, and service and entertainment areas. Mustafa Khalil pointed out the company’s plan to expand into new projects in the Fifth Settlement during the next year, after the success achieved by the Taj Misr projects in eastern and western Cairo. Khalil expected that the prices of building materials would rise by about 20% during the first half of next year, which in turn would affect real estate prices. He stressed that focusing on the speed of project implementation is the best solution for development companies to avoid price fluctuations and overcome the gap that occurs between unit pricing and implementation prices.
