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الخميس, 30 نوفمبر 2023 | 8:29 مساءً
إعلان طولي جانبي
إعلان طولي جانبي

Madar Development invests EGP 22bn in Egypt

Jasser Bahgat, CEO of Madar Development Company, confirmed that Ain Sukhna has proven its standard efficiency in defying the conditions imposed by the Corona pandemic and announce itself after it became the preferred residence for many citizens during the height of the exacerbation of the crisis and the spread of infection, to be an integrated alternative to services supported by safety, prevention and the magic of nature.

As Ain Sukhna has now turned into an important and wonderful place to reside, especially for the residents of Cairo, and in the near future for the residents of the New Administrative Capital.

This came during Jasser Bahgat’s meeting with the real estate sector editors on the sidelines of their visit to the Azha project in Ain Sokhna, owned by the company, to monitor and discuss the challenges of investment and urban development and discuss the future of urban development in Egypt.

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Jasser Bahgat said that Madar presented the site of its project to clients as a beach for Cairo and its natural extension in the future because it is along the New Administrative Capital Road,and he pointed out that the current internal road network contributed to saving time to the extent that the journey time to Ain Sukhna became less than the journey time between the assembly and Zamalek.

Bahgat pointed out that the ‘Azaha Ain Sokhna’ site provides its visitors with a unique and unprecedented experience of life on an area of ​​about 400 acres for real estate development. Azha is the largest tourism project in Al Ain Sokhna region at an investment cost of EGP 6 billion in the first projects of the leading mixed-use company, and an investment of the features located with its beach façade extending to about 700 meters in a tourist area very distinctive in its natural beauty, sulphurous eyes and white sand on the coast of the Gulf of Suez in the Red Sea.

The CEO of Madar Development company explained that the project consists of about 2,500 housing units designed with the latest in green architecture technology and modern construction methods in all fields, both in terms of design lines and advanced engineering models, which rely on the latest innovative future ideas in the form and design of residential, administrative and commercial units, in addition to providing the highest standards of security and construction safety to provide the project with all the lines needed from Downtown and 5 star hotels, water games, restaurants, cafes and private beach And a special club for members, stressing that the project provides more than 4 thousand direct jobs as well as thousands of indirect jobs while the company continues to pump investments during the coming period and through distinct projects as it is scheduled to start the company’s second project in the North Coast region next year at an investment cost of 8 billion pounds, stressing that the company plans to invest more in many leading projects to build more modern and luxurious communities to reach its investments in Egypt is about 22 billion pounds.

Jasser Bahgat said that the investment climate supporting real estate investment has stimulated Madar Development Company’s efforts to inject these new investments and create jobs to become an added value for this most important sector in the various sectors of the country that have recovered, and we are working to convey a message to Arab and foreign investors that real estate investment in Egypt is capable of achieving growth and advancing development.

He added that the construction expansion projects currently under way in Sokhna despite its multiplicity, but it is just the beginning expected to increase with the doubling of the demand for the site for its importance and natural and service features, which qualifies it to absorb new projects, explaining that the company as a real estate developer constantly studies the needs of the target groups and has flexible plans supported by the queens of innovation, specialization and skill able to keep up with the renewable needs of customers and in partnership with distinguished global expertise in the field of contracting includes the best engineering designers and consulting offices supervising the project, including YBA, Benoy, Omni View, WATG, Hany Saad, MemarK Moharram Bakhoum RMC, BW, Raouf Fahmy, Barton, Well More .

Jaser Bahgat explained that one of the most important factors of the success of real estate developers in withstanding the repercussions of the Corona crisis was the diversity of their real estate production to keep pace with the desires and requirements of customers in real estate and commercial units, as well as the good opportunity that the crisis represented by real estate investors to take advantage of the financial facilities provided by the state and the central bank to support the national economy by supporting the study of the requirements of customers in the real estate and the project as a whole who plan to stay there and develop financial plans and solutions to ensure the abundance of financial liquidity to cover the expenses of priorities that Imposed by the crisis as well as working to support preparations for similar crises in the future.

He said that the export of real estate requires studying three important categories of customers, namely Egyptians abroad who target certain real estate patterns and the Arab customer in Cairo and coastal cities, a category that often does not seek exceptional requirements as well as the foreign customer who prefers a real estate unit within the framework of an integrated project with various services and distinctive natural features.

He also pointed out that the crisis imposed by the adoption of the online sales system prompted real estate developers to adopt a new idea in unit planning and develop the design of commercial and administrative spaces to keep pace with the changes and provide additional spaces allowing work from home

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