Mercon Development is the developer and executing company of the Pavo Tower CBD New Capital project. It is considered one of the modern real estate companies in the Egyptian real estate market. Mercon Development was established in January 2021 as a Shareholding company. Pavo Tower CBD New Capital as its first project in the New Administrative Capital, while its first project was in the northern 90s, which is the G7 project, which is a commercial mall on an area of 6000 meters next to Al-Marasem Hospital, El-Baz Mosque, and Al-Banafj neighborhood, and a sales percentage has been achieved that exceeded 80% of the project. , which includes two reputable businessmen and investors, namely; Eng. Ahmed Embabi, Chairman of the Company’s Board of Directors, and is a businessman who owns Mimar Makkah, one of the real estate companies, and this company has delivered more than 80 residential buildings and about 6,400 units, and Eng. Samer Bey, a businessman who owns Sam Mix Company, which specializes in In the concrete industry, also owns a major transport company with more than 1,500 transport trucks. Both have previously announced that the main objective of their presence in the market during the coming period is to create an Egyptian entity with a global mindset, through the use of external expertise that adopts the strategic plan of their company, Mercon Real Estate Development, and its vision towards creating a unique product with a different thought from what is generally accepted in the market to reach the top of the top 5 companies In the Egyptian real estate market during only 5 years.
Eng. Ahmed Embambi and Eng. Samer El-Beik stated that Mercon Real Estate Development has started to develop a strategic plan to invade the real estate market with a number of distinctive projects that provide added value to the Egyptian real estate market worthy of the group's name and experience in the real estate market spanning for more than 15 years, beginning with building materials trade. And the manufacture of ready-made concrete, through contracting and even real estate investment through the implementation of more than 70 projects in the Fifth Settlement area, and many other neighboring areas, as the company has a large land portfolio in a number of different areas whose locations will be announced with the launch of each project in a timely manner. It is noteworthy that Mercon Real Estate Development has a volume of sales space during 2021 estimated at about 120 thousand square meters, and varies between commercial and administrative, which helps create an abundance of supply, and thus meet market demand.
It is worth mentioning that Mercon Real Estate Development Company employs about 1,200 employees, and its vision is an ambitious plan during the next few years to expand in the field of real estate development, in the Fifth Settlement, the New Administrative Capital, and the New Alamein City, by presenting a different and innovative urban thought that aims To achieve comprehensive urban development in all parts of Egypt.
Ahmed Embabi also mentioned, in previous press statements, that the plan of Mercon Real Estate Development is based on pumping investments into the Egyptian market during 2021 with a value of 5 billion Egyptian pounds, by offering 3 administrative and commercial projects in the Fifth Settlement, and it is indicated that the first mall, which holds The name “Gravity 7” is located in plot G7 on an area of 6000 square meters, with a front facade of 250 meters, next to the headquarters of the New Cairo Authority overlooking the North 90th Street and the Protocol Hospital, which is the largest hospital in New Cairo.
Mercon Real Estate Development Company said in previous statements that the presence of an entity capable of pumping this amount of investments and implementing these projects at the same time, especially in the Fifth Settlement area, indicates the extent of the strength and size of the company and its vision towards bridging the gap between supply and demand for commercial and administrative units in this area, and that Through the studies that were carried out on the Fifth Settlement market, especially the commercial and administrative fields, which revealed the lack of supply for these units and the high demand for them, so 3 projects will be announced, all of which are commercial malls during the current year, in addition to other studies conducted during the coming period to include two other projects before the end of the year. general.
Mercon Real Estate Development announced the prices per square meter in the commercial units of Pavo Tower CBD New Capital from 62.500 EGP, and prices per square meter in the administrative units of Pavo Tower start from 28,500 EGP per meter.
Pavo Tower CBD New Capital is one of the best and most important Towers in the New Administrative Capital, as it has services and benefits that suit all the needs of your commercial or administrative activity.