New Generation Development company has launched its flagship project L’HIVER on the beach area at New Alamein city on 75 acres.
In a press conference attended by company officials and a group of media and journalists, Chairman of New Generation Development Assem Fadel said that choosing New Alamein city to launch this pioneering project is in line with the state’s plan to develop new, smart and promising cities.
Fadel added that New Alamein is characterized by its unique planning and model infrastructure in addition to accelerated development to raise occupancy rate in the city.
He added that the L’HIVER is an integrated urban project and is located on the beach area in New Alamein city. Moreover, the project includes various services that integrate with existing services in New Alamein city to achieves an integrated life model for residents throughout the year. This enhances the concept of permanent residence throughout the year in the city and not summer residence only, which is a key goal of the state.
New Generation targets recording EGP 4bn in sales of the project, he noted, pointed out that the company aims to maximize the benefit from the project strategic location. Besides, collaborating with distinguished and international success partners to develop a project that achieves the highest standards of quality and luxury for its customers.
The project will include the first sports club in the Middle East under the umbrella of Roland-Garros, the French Tennis Academy and the first in the world.
The project built-up area reaches about 16.5% of the total project size, and the rest are green spaces and lakes to achieve welfare for customer within the project. Additionally, 95% of units overlook lakes with a sandy beach suitable for swimming. The project includes a commercial area, which is the only one overlooking the international coastal road, in addition to a hotel and 3 marinas for yachts, Fadel disclosed.
He explained that KAD, one of the leading companies in designing projects, as well as, the project is managed under the supervision of the French company FONCIER, which ensures cooperation with strong success partners who have a strong precedent and experience in project development.
He pointed out that the company has a strong and diversified land portfolio that the company will launch projects on according to a specific and gradual expansion plan.
“The company’s second project will be launched soon, a project that integrates with the company’s previous business and meets the needs of customers “ Fadel said.
Ehab Labib, General Manager of New Generation Development stated that the project will be developed with self-financing, according to a specific construction plan that will start before the end of this year.
Labib added that the project will be delivered by the end of 2025, which requires continuous construction works to speed up delivery according to specified dates.
He revealed that the targeted sales for the first offering of the project amount to about EGP 1.5bn.
It is expected that the project will be sold out within a period ranging from 6 to 8 months, according to a specific studied plan that guarantees parallelism between construction and marketing, in order to avoid risks resulting from selling units before execution and a gap between sale price and construction cost, he added.
The company has a strong precedent in its first project, Botanica, in New Administrative Capital, he elaborated, explained that the company decided to invest in New Alamein to integrate with the state’s plan to develop new cities, of which the private sector is an essential part.
The company is always searching for promising investment opportunities to serve Egyptian economy and meet demands of its clients, he concluded.
CCO of New Generation Development Ahmed Sameh explained that the L’HIVER project includes various units of chalets, villas, townhouses and twin houses, with different areas starting from 42 sqm up to 220 sqm.
Sameh added that the company offers distinctive payment plans for the project residents that suit the target customers.
He highlighted that the company offers various payment plans to customers, including 5% down payment and installments period up to 7 years, 6% down payment and installments over 8 years, 9% down payment and payment plan up to 9 years. These payment plans are flexible and suit the target customers.
The first tennis tournament in will be held in sports club located in the project in winter season.
Accordingly, the company focuses on operating in winter season, such as operating in summer season, which guarantees permanent occupancy inside the project throughout the year, and the resident can rent his unit according to a specific system set by the company. This ensures recurring returns for client to achieve the highest return on investment, he disclosed.
