El Attal Holding Offers Exclusive Deals on ParkLane, with Commercial Units Set to Launch Next Month.

Eng. Ahmed El Attal, Chairman of EL ATTAL HOLDING and a member of the Real Estate Development Chamber at the Federation of Egyptian Industries, revealed that the group was preparing to launch the commercial component of its ParkLane project in the New Administrative Capital, spanning approximately 15,000 square meters, in September. He noted that the project’s commercial units are based on a different vision from the traditional commercial model found in residential developments across the capital, which typically focuses on a shopping mall positioned at the project’s entrance to serve the entire community. In contrast, ParkLane integrates residential and commercial components to create a connected urban community that blends the past with the present. Speaking on the sidelines of the company’s participation in the Investment and Real Estate Exhibition, held at the Egypt International Exhibition Center from the 28th to the 31st of the month, El Attal also announced the upcoming launch of a specialized commercial district in the New Administrative Capital, separate from ParkLane’s commercial component, during the fourth quarter of the year. The company also offered exclusive promotions to its customers during the exhibition, including a down payment starting from 8% and an eight-year installment plan with monthly payments of EGP 8,000 throughout the exhibition period. The company also conducted customer surveys to gather feedback on the project’s commercial units and identify the types of businesses and activities customers would like to see. El Attal explained that demand for commercial units in the New Administrative Capital continues to grow, while claims that this demand is negatively affecting residential units are entirely unfounded. Residential units continue to attract strong customer interest and achieve healthy sales, he added, noting that the company was approaching its ParkLane sales target of approximately EGP 1 billion by the end of 2019. El Attal further emphasized that the real estate market remains one of the strongest and most attractive sectors for investment. While there has been no decline in overall sales volumes, the market has experienced a degree of saturation in the luxury housing segment. Developers should address this by diversifying the residential products offered within their projects to offset this slowdown. He concluded that the final quarter of the year was expected to witness an increase in sales, particularly in the New Administrative Capital and Ain Sokhna, which has gained strong competitive advantages compared with other coastal destinations due to its proximity to East Cairo and the New Administrative Capital.