IHD Developments, a Gulf-Egyptian company has launched its first project dubbed Vivid Tower in Egypt’s New Administrative Capital (NAC) at the western borders directly behind the touristic towers area.
Speaking in a press conference during the launch, IHD Developments Chairperson Hossam Al-Akshar said that the project’s general plan has been approved and licenses are being issued, adding that they are planning to begin the actual construction works in the coming days.
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According to Al-Akshar, the construction of the Vivid Tower project is expected to cost slightly over US$ 38M, and the company intends to direct close to US$ 6.4M to the tower’s construction in 2022.
He also said that the company is targeting over US$ 19M in sales in the first quarter (1Q) of this year.
An overview of the Vivid tower
Sitting on approximately 2,729 square meters piece of land occupying land no. MU5 – 16, the Vivid tower is an integrated commercial and administrative tower with 2 basements, a ground, and a total of 14 upper floors.
The ground and the 1st floors are set for commercial use with a total of 12 stores on the ground floor and 7 on the first floor. The 2nd to the 13th floor is dynamic floors set for administrative purposes while the 14th floor is an annex floor.
The tower has a complete panoramic view for all commercial and administrative units, two elevators for the commercial units, a total of 4 lifts- 3 for administrative floors and one for services, and a big lobby facing the lifts.
It also has 4 meeting rooms, spaces for taking breaks, a cafeteria on the 2nd floor, toilets on each floor, and additional shared meeting rooms on each floor.
