Daily News Egypt

DOJA markets 50% of Aurora project within nine months - Daily News Egypt

Advertising Area




Advertising Area




DOJA markets 50% of Aurora project within nine months

Company plans to deliver project in May 2022, says sales manager


DOJA Developments implements the first administrative, medical and commercial project on 6,300 sqm in the New Administrative Capital (NAC) on the Al Amal axis, the main entrance of the NAC.

During an iftar on Wednesday, the company announced the official launch of the Aurora project.

Daily News Egypt interviewed the project’s officers and its designer Eslam Khater, sales manager of Doja Developments, Mostafa Anbar, engineering director at the company, Raef Fahmi Architects- RFA founder Raef Fahmy, and Tamer Mostafa Mito, chairperson of Mito Consult, to know Aurora project’s details, the transcript for which is below, lightly edited for clarity:

Please tell us more about the Aurora project.

Khater: The project includes commercial, administrative, and clinic units in MU23, which is located on the main entrance of the NAC and close to central business district (CBD) that will comprise of skyscrapers, as well as its proximity to the Green River area.

The project is built up area on 30% of the total project’s space which encompasses two basements, a ground floor, nine floors, and a roof. Additionally, we deliver the project fully-finished with a payment plan over six years and a 10% down-payment.

Moreover, we designed a distinctive project to attract multinational companies, restaurants, and international medical centres.

The project comprises of commercial shops, cafes, and restaurants in the ground and first floors which will be leased not for selling but to preserve the community and attract class A residents and maintain that level. Furthermore, the third to the sixth floors will be allocated for medical units and the seventh to the ninth floor will be administrative units.

Who will manage the project after operation?

Khater: We are still negotiating with several international operators to manage the project.

Why did the company decide to launch such a commercial project?

Khater: The market orientation and potentiality are toward investing in the NAC, and the return on commercial investment is equivalent to three or four times the return on other activities, whether in leasing or resale. Additionally, we expect a growing demand for commercial units in the coming period in the NAC.

The project is very close to the CBD and inside MU23 which contains 50,000 fully-finished residential units will be delivered in 2019 and early 2020 that guarantee that the area will be vital and inhabited soon. Moreover, transferring the governmental agencies and ministries will boost commercial and administrative units’ sales for companies that have daily deals with these ministries and agencies.

What is the project’s marketing situation?

Khater: We have managed to market about 50% of the project since its launch in July 2018.

When will the company complete the Aurora marketing?

Khater: We plan to complete the project marketing by the end of 2020. 

What are the units’ sizes? And what is the price of a square metre in the project?

Khater: commercial and administrative units start from 45 sqm to 180sqm, and smart clinics have sizes starting from 28 sqm to 1,900 sqm.

For medical and administrative units, the price of a square metre starts from EGP 36,750 and commercial square metre starts from EGP 50,000 in the second floor.

When will the company deliver the project?

Khater: The project delivery will be within three years in May 2022.

What is the construction situation of the project?

Anbar: We have begun earthworks and will begin the construction after two months.

What is the value of investments to be directed toward the project’s construction?

Anbar: We will direct EGP 40m to EGP 60m in construction works.

What is the total project’s investments?

Khater: Aurora’s total investments is worth EGP 1.2bn.

What is the value of targeted sales in 2019?

Khater: The company plans to achieve EGP 200m in sales by the end of the current year.

What distinguishes the project?

Raef Fahmy: The Aurora project’s design is characterised by its distinctive location from several angles as we considered the availability of areas to be used and our keenness in the administrative buildings to have an outdoors, bridges, and balconies area.

The clients will enjoy the design, approach, and location and its interior design is simple and comfortable. Moreover, the building itself is simple although it is a small area but it includes all needed services and its internal space is flexible.

In this project, we insisted on applying socio-economic sustainability, which means flexibility in changing the unit activity according to market needs, which is not easy to adopt in any design but our office has adopted that for six years now.

Is your role designing the project only or designing and supervising?

We supervise the project implementation and follow-up on all phases of implementation until we deliver the project to the client.

What is the role of Mito Consult in Aurora project?

Mito: As a group of engineers and professionals, we contribute to the world of design. We adopt a policy of nurturing innovative ideas that exhibit high standards of professional skills.

In the Aurora project we design plumbing systems for all building types, design firefighting systems for all building types, design water supply, irrigation systems, sanitary drainage networks, pump stations, storage tanks, water, and sewage treatment plants.

    

https://eklutdvotyzsri.dailynewssegypt.com/2019/05/27/doja-markets-50-of-aurora-project-within-nine-months/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe