Officials of Arab Developers Holding met the company’s clients in Nyoum Assiut, during a ceremony organized by the company in Nasser city, West Assiut, which was performed by artist Mohamed Adaweya. The company’s customers, guests and senior families of Assiut Governorate attended the ceremony.
Chairperson of Arab Developers Holding Gamal Fathallah said that we met our clients of Nyoum Assiut project to introduce the latest developments in the company, most notably changing the name from Porto Group to Arab Developers Holding, as well as revealing the company’s plans in presence of its clients.
Fathallah added that this comes in alliance to the company’s view of considering clients as partners of success and part of our structure. Not just owners of units that the company is building. Therefore, it was necessary to let them know the latest developments and enhance their element of trust in the company’s management, in addition to identifying customers’ reactions and direct communication with them.
He stated, “With the entry of Arab investors to the company’s shareholders’ structure, it was decided to change its name from Porto Group to Arab Developers Holding, in line with the vision of the new board of directors and desire for formal and fundamental change that would contribute to enhancing the company’s reputation in the real estate market.”
He further noted that the company has a new business strategy based on several pillars, most notably, raising commitment with clients, maintaining their confidence, and raising their level of satisfaction, in addition to, continuing to develop and deliver our current projects. The company aims to record sales exceeding EGP 2bn in 2022.
Arab Developers Holding’s CEO Ayman Bin Khalifa stated that changing the name of Porto Assiut project to Nyoum Assiut is part of the company’s plan, as brands of Arab Developers Holding has become Nyoum, which is intended for residential projects developed by the group, and Sia, which is dedicated to coastal projects.
Bin Khalifa said that the company headed to Nasser City, specifically on the two-way plateau road that connects Assiut city with the Western Cairo Desert Road, 15 minutes from the old Assiut city, and only 4 kilometers from Assiut Airport, which makes it close to all major transportation.
Spanning over 390,000 sqm, Nyoum Assiut is an integrated residential project that comprises an international school, a hotel, a social club and sports fields, in addition to 1,819 apartments, 357 villas and 72 Commercial Units, making it an integrated project for Assiut residents. The project was launched in 2020.
Arab Developers Holding was one of the first investors in this promising new city, which reflects its insistence to be part of the state’s development plan, as well as heading to new areas on the way to ensure that the company has an investment future for it, according to Bin Khalifa.
He explained that, according to the Ministry of Housing, Utilities and Urban Communities’ figures, volume of investments that have been directed to the development of the city amounted to EGP 2.2bn so far, including infrastructure and utility projects. Besides, developing housing projects at a cost of EGP 1.1bn.
The state has placed core development in new cities as a major attraction for investment in these areas, Bin Khalifa disclosed.
He further noted that the company plans to deliver more than 2,000 units in its projects during the current year, added that the company plans to inject investments in construction worth EGP 1.5bn in 2022.