Egypt's New Capital Gets Boost from Verity Business Complex
Verity Business Complex, a major mixed-use development in the New Administrative Capital of Egypt, promises to accelerate the economic growth of the country and raise its profile as a regional hub for business and innovation.
The compound, which spans over 30,000 square meters and cost about 700 million Egyptian pounds ($44 million) to build, offers a range of commercial, residential, and leisure facilities that cater to various needs and tastes.
On the commercial side, Verity Business Complex boasts five office towers that provide more than 50,000 square meters of rentable space, along with a state-of-the-art conference center that can host up to 1,200 people, a business hotel with 96 rooms, and a shopping mall with over 200 shops and restaurants.
The residential component of the development consists of two towers that offer luxury apartments and penthouses overlooking the breathtaking views of the city and the green spaces that surround it.
The leisure amenities include a sports club, a spa and wellness center, a cinema complex, and a kids' entertainment zone, among others.
The modern and elegant design of Verity Business Complex, which was created by a team of renowned architects and engineers, blends seamlessly with the natural beauty and urban functionality of the New Capital.
Moreover, the project reflects the commitment of the Egyptian government to stimulate private investment, create job opportunities, and enhance the quality of life for its citizens through urban development initiatives that align with the objectives of the Sustainable Development Goals (SDGs) of the United Nations.
Verity Business Complex is developed by the Verity Group, a leading real estate developer in Egypt that has a track record of successful projects in various sectors, such as healthcare, education, and hospitality, as well as residential and commercial real estate.
The CEO of Verity Group, Ahmed Abaza, said that the establishment of Verity Business Complex in the New Capital represents a "milestone" for the company and a "vote of confidence" in the economic potential of Egypt.
He added that the compound offers "a unique blend of comfort, style, and convenience" that caters to the needs and aspirations of both businesses and individuals who seek to thrive in a dynamic and vibrant environment.
The inauguration of Verity Business Complex was attended by high-profile officials, including the Prime Minister of Egypt, Mostafa Madbouly, and the Minister of Housing, Utilities, and Urban Communities, Assem El-Gazzar, who praised the project as a "remarkable achievement" that contributes to the vision of Egypt 2030.
The New Administrative Capital, which is located about 45 kilometers east of Cairo, aims to become a smart city that integrates cutting-edge technologies and sustainable practices to foster a better quality of life for its residents and visitors.
Verity Business Complex is set to become a centerpiece of this vision by providing a vibrant and inclusive ecosystem of business, leisure, and residential activities that inspire creativity, collaboration, and growth.