Tycoon Tower in Egypt’s NAC sells 50% of its units with total EGP 2 bln

Ahram Online , Monday 13 Mar 2023

Nile Developments – the first specialised Egyptian company in developing skyscrapers – announced on Monday that its Tycoon Tower has managed to sell 50 percent of its first phase with a total of EGP 2 billion.

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The new capital is preparing to receive its residents

 

The Tower which is located in the New Administrative Capital (NAC) is Africa’s highest hotel.

 In February, Chairman and Managing Director of the Administrative Capital Company Khaled Abbas witnessed the launching of the project.

NAC has attracted investors from all over the world, especially in real estate, smart cities, and energy and digital solutions.

The New Capital is coming to life as a number of ministries have begun relocating there.  

In January, Abbas stated that 30,000 public employees will relocate to the new capital between March and April.

Furthermore, Egypt’s cabinet has held its weekly meeting earlier this month at the new capital.

 

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