Egypt’s AlQamzi Developments sales exceed EGP 1 bln in SeaZen North Coast
Emirati-Egyptian joint venture AlQamzi Developments announced that it achieved sales contracts of over EGP one billion in the first day of offering residential units purchasing in its latest projects SeaZen North Coast.
AlQamzi Developments got the ministerial decree no. 608 of 2022 that approves the expansion of its projects in the North Coast through SeaZen.
SeaZen project is implementing over a surface area of 204 acres with over 690 meters beach overlooking Mediterranean Sea and located at 170 kilometers of Dabaa Road, with a total investment of EGP 14 billion.
Mr. Yasser Zidan, the Egyptian partner and AlQamzi Developments CEO said that SeaZen is considered as a new launch for the company that comes in light of its expansion plan which aims to inject EGP 22 billion of investments during the coming four years.
The sales contracts amount proves the seriousness of AlQamzi Developments to complete legal regulations and shows the company’s interest in accelerating implementation and executing rates to finish the project.
Zidan added that SeaZen project came to crown AlQamzi Development’s 12-year experience in the Egyptian market, in addition to over 25 years of experience in the real estate market in the United Arab of Emirates.
The Emirati real estate company decided to expand in the Egyptian market since 2010, the thing that reflects its interest and trust in the strength of the Egyptian market.
Zidan mentioned that AlQamzi Developments will start constructions of the project in October 2022, while it is planned to deliver the project’s first phase by 2025.
SeaZen residential project’s units vary between 2000 Villas and Chalets, all of them will be delivered fully finished and including air conditioning system and kitchen installed. The projects’ units are designed to be built gradually to over 47 meters above the sea level, where all units can directly overlook the beach.
Speaking about the project’s features, the green spaces also resemble 85 percent of the total area of SeaZen. It also comprises three Spa Centers for all ages and needs, as well as three pools that provide hot water and gym, in addition to an artificial-wave pool where the wave could reach length of three meters, the first of its kind in the North Coast. It is scheduled to be inaugurated in summer 2024.
Zidan stressed that the company is keen to provide high quality level-services that comply with the Egyptian state’s Strategy to construct an integrated community in the North Coast that is working all year long, not only during summer time.
He pointed out that AlQamzi Developments collaborated with senior engineering consultants in Egypt and The Middle East to design the project, as it assigned the construction work and layout designing to DMA Company that has previous work and experience in implementing residential projects in the North Coast.
Al-Qamzi Emirati Group is one of the Emirati entities that was established in 1997 and specialized in real estate field. The company implemented several projects in the UAE and took the decision to expand abroad since 2010. The Egyptian market was among the chosen markets to be its first stop, as it established AlQamzi Development-Egypt Company which announced the integrated expansion plan in the Egyptian market last year.
