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Eng. Khaled Abbas, Chairman and Managing Director of the Administrative Capital Company, witnessed the launching ceremony of Nile Developments – the first specialized Egyptian company in developing skyscrapers – launching “Tycoon Tower”, Africa’s highest hotel, poised to become one of the most recognizable landmarks in Downtown New Administrative Capital.
The ceremony, which took place at the St. Regis Almasa Hotel, New Administrative Capital (NAC), witnessed the attendance of real estate and tourism industries’ leaders alongside art and media public figures, who indulged themselves in a mind-blowing performance of mega star Amr Diab.
Abbas stated that “the Administrative Capital is in constant contact with all the developers to overcome all difficulties, stressing that everyone cooperating to complete the giant national project, which is considered the most prominent feature of the new republic launched by President Abdel Fattah El-Sisi”.
Abbas stressed “the importance of attracting foreign investments, stressing on providing all means of support for them to enter the Egyptian real estate market, especially the New Administrative Capital project.”
He ensured that the New Administrative Capital project is not only a real estate project, but also opens new horizons for investment in many other economic sectors and investment in the education, health and infrastructure sectors.
During the event, Mohamed Taher, Chairman of Nile Developments, revealed a new partnership with Millennium Hotels and Resorts, to operate and manage “Tycoon Tower” hotel – a global hotel group with over 150 hotels around the world, and entering Egypt and the Africa for the first time.
Taher stated: “Tycoon Tower is 233 meters high, and it is an exceptional real estate project that will set a new global standard as Africa’s highest hotel. The new hotel – one of Nile Business City towers and the largest project of Nile Developments so far- is deemed as a historical addition to NAC’s Downtown area.”
He also pointed out that Nile Developments is the first Egyptian private real estate developer to specialize in developing skyscrapers, which started its operations in 2021 in NAC’s Downtown area, adding that the company has studied the return on investment (ROI) of such projects and found that buildings of 60 floor height at maximum have a large economic return and is an added value for buyers.
Taher said that the company has a vision and a strategic plan to continue its success journey in NAC, which is considered the main icon of national projects, stressing that the real estate sector has proven its ability to weather economic headwinds over the past years, by developing distinctive value-added projects to attract local and international investments.
For his part, Mahmoud Taher, Vice Chairman of Nile Development Company, said that the launch of the Tycoon Tower project has seen a healthy demand from clients and real estate brokers, who expressed their great admiration for the project and confirmed that it will be a pinnacle of the tourism real estate investment sector.
Mahmoud added: ““Tycoon Tower” is accessible from all major axes, as it is strategically located in the middle of the Downtown area and is close to 80% of NAC’s landmarks. The building has a stunning design, modern interiors, and an infinity pool on the roof that will provide picturesque 365-degree views of the Downtown area and the entire NAC, since it directly overlooks the Green River and has all the luxurious facilities, alongside being called “the golden point of the New Capital” …all this makes it attractive to residents and international visitors.”
It is noteworthy that Nile Developments cooperates with international experts on its state-of-art projects according to the latest international standards in design and construction. It is the first Egyptian company to contribute with a specialized contractor in developing skyscrapers at the size of “SIAC” company, alongside joining hands with industry veterans including “Moharram Bakhoum” company and Imad El-Sherbiny, who supervised the construction of some of the most famous and highest skyscrapers in Dubai and Saudi Arabia.
In the same context, Fahad Abdulrahim Kazim, Chief Executive Officer, Millennium Hotels and Resorts MEA, said: ““We are delighted to sign an agreement with respected developer Nile Developments as we mark our entry into Egypt. The New Administrative Capital is an exciting and visionary project that will create a major business and tourism hub in the region. Both Egypt specifically, and Africa broadly are an integral part of our growth strategy, and we look forward to this project as the beginning of our expansion across the continent.”
From his side, Stephen Kamat, Vice President Brands, Marketing and Communications, Millennium Hotels and Resorts MEA, “We are delighted to bring our international flagship 5 star brand “Grand Millennium” to Egypt. It perfectly complements this exciting project in the heart of the New Administrative Capital. Our hotels have great locations around the world and this project marks another prestigious address to add to our portfolio.” It is worth mentioning that Nile Developments is one of the largest real estate developers in the New Administrative Capital, as it owns two of the most important projects in the Downtown area on the tourist towers strip; the most prominent of which is the Nile Business City project (the highest vertical city at a length of 233m), and it consists of four towers including the recently launched: the administrative tower and Nile City Center (the commercial center of the project).
Register now for one of the special and ever-renewing offers from Nile Real Estate Development Company, with discounts and payment facilities for the first time in New Cairo properties. This includes units and properties for sale in the Fifth Settlement and apartments for sale in the Administrative Capital, featuring the latest real estate projects. These projects are characterized by architectural facades with the latest designs in some of the most distinctive locations in New Cairo, adjacent to key service and government areas, renowned clubs, schools, and universities. Register your information on the website, and we will contact you directly.
31 North Tower, the first Festival Tower located in the heart of the New Administrative Capital. This tower stands out with a unique and iconic design, occupying a prime location in the Downtown area, one of the most upscale and important areas in the New Administrative Capital. It stretches over a total area of 18,306 square meters, featuring a main façade that spans 100 meters, with a captivating view of the Green River and extensive green spaces surrounding it. The building is designed according to the latest global standards to achieve the highest levels of luxury and productivity simultaneously. The tower consists of 31 upper floors, in addition to 5 lower floors.
Get to know 'Nile Business City,' the distinctive vertical city that ranks as the tallest vertical city in Africa. It holds a unique position in the heart of the New Administrative Capital and stands as the second tallest skyscraper in Egypt and the third tallest tower in Africa. This massive city extends over the largest constructed area, covering 296,000 square meters. It is distinguished by the height of its towers, reaching 233 meters and housing 60 elevators. Discover the charm of this unique city and enjoy an unparalleled experience in the heart of the New Administrative Capital.
Explore Tycoon Tower, the tallest hotel in Africa, reaching a height of 233 meters. It's an exceptional real estate project that sets a new global standard as the tallest hotel on the African continent. This architectural masterpiece is part of the Nile Business City Towers, the latest historic addition to the skyline of the Downtown area in the New Administrative Capital. This massive project, developed by Nile Real Estate Development Company, is the largest to date. The building features its astonishing design and contemporary interiors, as well as an Infinity Pool on the rooftop, providing breathtaking 365-degree views of Downtown and the New Administrative Capital. As the tallest hotel in Africa, Tycoon Tower is expected to become the most renowned hotel landmark in the New Administrative Capital. The direct and luxurious views of the Green River, combined with the hotel's available amenities, make it an attractive destination for both local residents and international visitors to the city, enhancing the hotel's status as a unique property in one of the world's most exciting cities. These global characteristics make Tycoon Tower one of the most thrilling investments in our rapidly growing portfolio.
Explore Nile Boulevard compound, an architectural masterpiece inspired by elegant French design, offering a unique lifestyle. It is an artistic creation radiating a captivating urban charm, where beauty, elegance, and excitement converge in one place, all adorning the vibrant heart of New Cairo. When viewed from a distance, Nile Boulevard appears as a traditional French city with alluring creative details embellishing the skyline. As you draw closer, you'll discover a comprehensive world sparkling before you, spanning an area of 29 acres, far from the noise and commotion of other worlds. The boundaries of Nile Boulevard have been intelligently designed, making it easy for residents to access services within just 3 to 5 minutes on foot, right next to their homes.