Code Development launches North Code its first project at North Coast with EGP 2bn investments
Code Development announced the launch of its first project in North Coast, North Code, in a distinctive and competitive location, with investments worth EGP 2bn.
Sayed Essa, CEO and member of board of directors at Code. Development, announced the company’s collaboration with Aalam Real Estate Company for a pioneering project situated at Kilometer 94 on the North Coast.
Essa highlighted the significance of selecting an unparalleled investment site; emphasized the project’s potential for development and high returns, promising a future marked by prosperity and value for clients.
He elaborated that the project sits prominently at Kilometer 94, facing the new yacht marina and Marina 1. Spanning over 35 acres, it stands as the inaugural fully integrated hotel resort in the area, with its initial phase occupying 12 acres. A partnership has been established with a hotel management firm tasked with overseeing unit leasing, enabling clients to pursue investment returns even during periods of non-utilization.
Eng. Mohamed Al-Damrani, Member of the Board of Directors and Managing Director at Code. Development, highlighted the expansive development undertaken by the state along the North Coast, presenting a plethora of investment openings for real estate firms.
He emphasized that only robust and committed companies can capitalize on these promising prospects. Al-Damrani underscored that amidst stiff competition in the North Coast region, the project that impeccably fulfills customer needs will emerge victorious in this arena.
He pointed out that the project boasts an array of services aimed at ensuring a premium experience for its customers. Furthermore, its prime location directly overlooking the yacht marina and Marina Gate 1 ensures a unique and advantageous investment opportunity. Additionally, the implementation of Laguna across the entire project area ensures water features are abundant throughout the project.
The company’s Chief Commercial Officer Sherif Helou further stated that reservations for the project will commence in early May. The project offers fully furnished hotel units starting from 40 sqm, with payment plans beginning at EGP 99,000 and extending up to 8 years. These flexible and competitive payment options cater to the project’s target clientele.
He went on to mention that the project encompasses a commercial mall spanning 6,000 sqm, featuring a hypermarket, restaurants, cafes, a gym, and assorted services aimed at optimizing customer experience and fostering integration within available activities. This strategy is designed to elevate occupancy rates in the project year-round, aligning with the essence of the state’s development plan, which prioritizes projects with sustained activity, rather than being limited to specific seasons.
He disclosed that the management and operation of the project rely on cutting-edge technological systems aligned with global advancements. Furthermore, the project encompasses a 3-acre social club, with units boasting scenic sea views and access to a private beach, ensuring a comprehensive project tailored to meet all client needs, with meticulous consideration given to every element.
