Dahab Development launches ITC project at New Capital with EGP 500m investments

Mona Elbahrawy 2021/10/28

شركة دهب — Nader Adeeb Moawad, chairman of Dahab Development, and Sherif Moawad, a member of the company’s board of directors

Dahab Development, the leading real estate development company, has announced the launch of Iconic Trinity Complex (ITC) project, its first project in the New Administrative Capital (NAC).
ITC is situated in the most distinguished location in the NAC’s MU23 area over 8,000 sqm with investments of up to EGP 500m.
Nader Adeeb Moawad, chairman of Dahab Development, said that the company is very confident in investment opportunities in the Egyptian market, added, “We believe in the state’s plans to launch new fourth-generation cities, especially the New Capital. Our Iconic Trinity Complex project is located in MU23, which is an integrated services area located between second residential district R2 and the third residential district R3.
Moawad added that Dahab Development has contracted with one of the largest consulting offices as a general consultant for the ITC project, YBA – Yasser Al Beltagy Architects.
ITC mall complies with standards of the Egyptian Building Code, and we are seeking to obtain a silver certificate of the Leadership in Energy and Environmental Designs (LEED), which in turn places building’s classification as one of the environmentally friendly buildings, he elaborated.
It is scheduled to operate the mall in the fourth quarter of 2022, he disclosed.
Moawad further stressed that the project will revolutionize commercial real estate industry, and comes with unique and innovative privileges that have not been presented in the market before, in addition to prime location on the most important axes of the New Capital, the northern axis of Bin Zayed, and Al Aml axis, which is a few minutes away from the iconic tower in the Central Business District, it is only 800 sqm away.
For his part, Sherif Moawad, a member of the company’s board of directors, stated that the launch of this project comes from the company’s belief in the importance of the state’s strategy and participating in its economic and social development plans.
Sherif Moawad pointed out that the mall spans over 11,700 sqm with built-up area reaches 30% of the total project size, comprises 3,000 sqm per floor and divided into a ground floor and 9 floors. Furthermore, the ITC project includes two basement floors over the total area of the project, and a garage on an area of 16, 000 sqm that can accommodate 600 cars.
He noted that the company plans to develop the project according to the highest quality and the latest technologies. ITC mall is integrated and features all necessary services and means of safety and protection, including fire pumps, pumps, water tanks, a rainwater collection tank, emergency exits and ladders, in addition to the distribution of fire extinguishers in consonance with the Egyptian code.
He stressed that Dahab Development has a great experience of nearly two decades in the European and Egyptian markets. The company was established in Egypt in 2007 as a real estate developer and a pioneer in construction and real estate industry. The company has succeeded in developing and delivering projects on an area of more than 50,000 sqm in different areas including New Cairo. Likewise, the company has distinguished businesses and investments in Germany and the United Kingdom, as well as, it plans to provide more flagship projects to the Egyptian market and make optimal use of huge opportunities currently offered in construction and real estate sectors.