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.
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.