Madaar achieved a remarkable development during the past years despite successive events that affected the economy in general and the real estate sector in particular. Due to procedures implemented by the company’s board of directors, the company was able to achieve unprecedented results in 2022.
The company has exceeded the target it set during the past year, 2022, after offering various residential units in its projects Azha North and Azha Ain Sokhna, with flexible payment plans that suit the needs of clients.
Eng. Ahmed Ehab, CEO of Madaar stated that the launching of the first phase of Azha North, located in Ras El Hikma in North Coast has witnessed an unprecedented boom in sales volume during the official sales launch in only 48 hours. Accordingly, the company launched the second release shortly after to be fully sold out in record time.
He elaborated that the Madaar has achieved sales exceeding EGP 6bn across its projects, and delivered more than 1,500 units in 2022 in Azha Ain Sokhna”.
The CEO of Madaar, assured that the customer’s satisfaction with both a unique up to date international experience on land and a relaxing mindful time away from the crowd of the city center is one of the most important targets reflecting Madaar’s values and mission. Accordingly, the largest and latest gym was opened in Ain Sokhna, which is being managed by the fitness management tycoon, BeFit, in addition to the opening of Azha Sports Club that includes various sports courts (Padel-Football – Basket- Tennis- Multipurpose court). SR Padel is managing the padel courts who have managed and organized successful tournaments across 2022 to make Azha a fully fledged sports destination, which added a strong competing edge for a great demand of pontential buyers across different generations.
Madaar succeeded in developing and completing the construction of more than 60% of Azha Ain Sokhna, and opened Tanoak Hotel, which is the first touristic hotel within the project. Additionally, the company has signed a protocol with Orange to provide Triple Play services, Ehab said. Not only that but during 2022, the service has been activated to provide various facilities throughout the whole development.
Moreover, Madaar has completed the first Crystal Lagoon providing more than 6-kilometer sandy beaches with an area exceeding 20 acres within Azha Ain Sokhna, which has been developed by the renowned international Crystal Lagoons Company. In addition, the compay has completed the first of many parks in Azha Sokhna, the Entry Park, built on an area of 3 acres , which is overlooking the Crystal Lagoon for the convenience of its residence and nature lovers. It entails several facilities including a restaurant, sandy beach, fitness and yoga areas, all with beautiful views.
“Madaar aims to launch new projects which in turn aims to develop Egypt’s economy. Moreover, the company has achieved success in employing a large number of employees during the current year, and additional job opportunities will be provided next year,” Ehab disclosed. “Likewise, Madaar participated in many events last year, namely conferences, seminars, and other economic activities to discuss the market visions and challenges. Madaar also participated in all real estate and tourism exhibitions with its Azha North and Azha Ain Sokhna projects. This is a continuation of the success achieved by the two projects and increasing demand by customers. This prompted the company to launch new phases in both projects in record time to meet the increasing demand”.
Furthermore, Madaar continued the development process for its integrated urban, tourism and entertainment projects at the highest level, as it provided its customers with a distinguished level of residential units with modern designs that suit different tastes with a variety of services, in response to increasing demand for unique projects of Madaar.
Azha North project is characterized by many services and units, including serviced apartments, hotel villas, a 5-star hotel, waterfront villas and chalets, and a beach with crystal clear waters, in addition to a sports club that includes sports courts (football – padel, tennis and multi-purpose courts). Additionally, the resort includes a commercial area that comprises shopping district, entertainment and commercial complex.
The Azha North project spans over 250 acres (1 million sqm) and is located in Ras Al-Hikma Bay, in one of the most distinguished areas on the North Coast, with initial investments of approximately EGP 25bn. It is located at kilo 212 on Alexandria-Matrouh Road, in the Ras Al-Hikma Bay, which is strategically located near the recently developed infrastructure and road network in the Northcoast, shortening the distance to Cairo.
