Empire State Developments has accelerated construction progress at El Centro Business Park in the Downtown district of the New Administrative Capital (NAC), reaffirming its commitment to delivering the project to clients on schedule as part of its comprehensive work plan.
Mostafa Mohsen, Chairman of Empire State Developments, stated that the strong pace of execution reflects the company’s commitment to its clients and reinforces its credibility in the real estate market.
He said that the project’s completion will stand as a solid reference for the company in promoting its future developments.
He further explained that the basement works have been fully completed and construction of the concrete structure is already underway, with structural completion scheduled within a year and final delivery planned within two years.
Despite market challenges faced during the construction phase, the company has demonstrated resilience and strength, ensuring steady progress throughout the project.
He confirmed that the project is being developed using green building methods to preserve the environment, while also adhering to international construction and finishing standards in line with the vision of the New Administrative Capital and the state’s strategy for sustainable green development.
He further explained that El Centro Business Park is located in the NAC’s Downtown area on a land area of approximately 6,000 sqm.
The project consists of a ground floor and 15 repeated floors. The company has successfully sold the entire project, with the exception of one floor it retained as part of its hedging strategy—adopting a sales pace aligned with its financial needs to enable it to withstand any potential market fluctuations, Mohsen disclosed.
He highlighted that the project’s built-up area is only 30%, and it consists of three basement levels covering the entire land plot in addition to the main building.
Additionally, the business park features diverse activities. The ground floor is allocated for restaurants and cafés, while the first three floors are dedicated to retail, the fourth and fifth floors to medical clinics, and from the sixth floor up to the top are designed for administrative offices.
Also, the project will include a distinctive panoramic restaurant on the top floor with a separate entrance.
He indicated that the project enjoys a strategic location with dual frontages—one overlooking a main street and the other facing Central Park in the Downtown area.
A sister contracting company is handling the construction works, ensuring both quality and speed of execution. In addition, CBRE, which manages the Iconic Tower, has been appointed to oversee project management, while engineering consultancy is provided by ACE Moharram Bakhoum. Together, these strong entities reflect the project’s significance and the landmark it is expected to become once completed.
