Jadeer Group announced the start of construction work on its project (Code), its first project in the New Administrative Capital, with an expected sales value of EGP 2 billion.

Mohammed Abu Al Khair, Chairman of the Board of Directors, announced that the drilling phase has been completed and currently in the excavations phase where it reached 10 meters of the total 15 meters targeted underground. According to the project's time plan, A 3 storey basement will be completed with the entire project area by the end of the year, where the construction of top floors will start early next year 2024.

Abu Al Khair added that Code is located in the most prominent location in New Capital’s Downtown, spanning over a total of 7200 meters making it the largest project in the downtown area with a direct view on the central park.
It is notable that Code is a mixed use project of 3 separate buildings interconnected with a bridge spanning over a ground floor and 12 floors with a total investment of EGP 1.3 Bn with sales value of EGP 2 Bn.

Different and flexible payment systems have been provided, starting with 5% down payment and up to 10 interest –free years.

Muhammad Abu Al-Khair indicated that Jadeer Group developed a remarkable market study prior to project initiation in addition to a feasibility study that included setting competitive prices while avoiding the risks of a sudden increase in building material prices sparing the company any unit price increase making Jadeer a trustworthy investment partner. Moreover, the company assigned the project to Mimar, one of the leading engineering companies in the Middle East providing a simple yet distinct and detailed design differentiating it from the competitors.

He also pointed out that project is to be finally sold by the end of the third quarter of this year, reflecting clients’ trust in Jadeer’s name. According to the project schedule, the project is scheduled to be delivered at the end of 2026.

Mohamed Abu Al-Khair also announced Jadeer’s expansion plan, during which it aims to implement a series of projects in different regions, especially the Fifth Settlement, which is witnessing a high demand, Sheikh Zayed and The New Administrative Capital where the company aims at injecting total investment over EGP 2.5Bn.

Abu Al-Khair pointed out that the company is conducting a comprehensive review of all the company's investments and is working to reformulate the investment philosophy for the upcoming period. This has led the company to specialize in economic activities and establish a group of quota entities.

The company now focuses on new investments in the New Administrative Capital, the North Coast, New Cairo, Sheikh Zayed, and works on exporting Egyptian real estate and achieving satisfactory growth rates according to the set strategy