Ardec injects EGP 400m investments in Zizinia El Mostakbal in 2021
The first tranche of 25 million pounds to complete external finishes, infrastructure and lakes with four contractors simultaneously to start delivery next year.
Cairo, Egypt - April xx 2021 - Ardec, the leading real estate developer, has signed agreements with four contractors to intensify the external finishes and infrastructure works in the first phase of the Zizinia El Mostakbal project in Mostakbal City. The company is paying about 250 million pounds as a down payment, as it plans to start delivery next year.
Current work on the Future Dungeon includes the facades of the first phase buildings in addition to facilities, green spaces, landscaping and lakes. ARDIC has teamed up with four different contractors to cover multiple aspects in parallel to expedite the process to deliver the first phase on time.
M. said. Hisham Abdel-Khalek, CEO of ARDIC. He concluded, “By executing the quick finishing works, we aim to enhance our customers’ confidence in our brand and deliver the first phase as per the contractual agreement with the exceptional standards they expect from us.”
Vast green spaces and spacious landscapes feature a unique design for Zizinia El Mostakabl. Green spaces make up 80% of the area of Zizinia El Mostakbal, along with private water features, bike path, walking path, gardens, commercial and administrative centers and a recreation area. The first phase of the Zizinia El Mostakbal project is scheduled to be delivered in June 2022. The project's total investment is EGP 5 billion.
Zizinia El Mostakbal is located in Mostakbal City, in a prime location in New Cairo, just 5 minutes from Road 90 and Cairo-Suez Road, and extends over an area of 70 acres. Zizinia Al Mostakbal features residential units of different sizes, penthouses, and ground apartments with a garden, with spaces starting from 85 square meters. The project has been designed by international professionals to meet the needs of a wider client base.
ARDIC was established in 1998 by strategic shareholders including Egyptian banks, insurance companies and major investment companies, with an authorized capital of 500 million Egyptian pounds. Since its establishment, the company has achieved a remarkable expansion in the Egyptian real estate market through a huge group of residential and commercial projects that offer unprecedented quality that added tremendous value to the Egyptian market. Ardak is the main owner and developer of the real estate brand "Zizinia" with five residential projects and the first to enter a residential complex in the Fifth Settlement area.