Serac Developments announced the launch of its first City Hall project in Egypt, with a joint Egyptian-Emirati investment. The City Hall project, which is being constructed in one of New Cairo’s most affluent areas, represents a fresh approach to Egypt’s commercial and governmental structures.

Tarek Suleiman, Chairman of Serac Developments, stated during a press conference held by the organization to announce the start of its operations in the Egyptian market. He said that the support the government gave to the real estate industry as well as the boom the nation experienced in its urban areas over the previous years was the driving force behind the establishment of Serac Developments Company. In an effort to support the development process that Egypt is going through.

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Overview of the City Hall project in Egypt

The project has commercial spaces ranging from 50 to 1,100 square meters and administrative ones from 50 to 500 square meters, according to Mamoun. And it has a really distinctive, distinguishing setting. Furthermore, he pointed out that the initiative offers the chance to purchase duplexes in commercial premises.

The City Hall, which consists of six separate buildings, is also located exactly on the Muhammad Naguib axis. Just off of northern 90th Street, to give visitors the most open areas and scenery possible. In addition, each structure has a ground floor, two basement floors, and two stories. The project has a total area of roughly 16,000 square meters, a 40% building rate. And a facade that extends for nearly 300 meters along the major road.

For his part, Karim Mamoun, CEO of Serac Developments, said that cooperation with businessman Tarek Suleiman is a new step. Given his experience in the Egyptian market, and the financial solvency that makes Serac Developments a major competitor.

Mamoun noted that the City Hall in Egypt is not just for the Fifth Settlement. It is a concept that will be spread to a number of other locations. With the same name and be a draw for customers and companies from abroad.