After the success of its first experience in Asayla compound, Mabany Edris plans to expand the implementation of residential and medical complexes in New Assiut in 2022, Invest-Gate reports.
Mohamed Edris, CEO of Mabany Edris, reveals that many investment opportunities are being studied, including the implementation of an integrated medical complex in New Assiut. He continues, “The company intends to implement a new residential compound in New Assiut.”
As for Asayla compound, he declared that the company has completed the sale of the project’s first phase, and has also started the construction of the “Holiday Inn Asayla” hotel, the first hotel with global management in the heart of Upper Egypt. Moreover, he notes that 60% of the construction of the first phase has been completed.
Asayla compound spans over130,000 sqm in the new city of Assiut, with investments of EGP 1.250 bn. The project is located on the main road and has a view of all the city’s landmarks, near the Smart Village, New Assiut University and the Sphinx University.
The project includes various units between towns, twin houses, and standalone villas, with spaces between 200 and 390 sqm. It also features integrated services such as a social club that includes a restaurant, a café, a swimming pool, and a children’s garden, in addition to various commercial services.
Asayla also includes the “Holiday Inn” hotel, which is managed by the InterContinental Hotels and Resorts International Group “IHG”.
Holiday Inn is a 4-star hotel, with investments of EGP 250 mn, comprising 157 hotel rooms. It is expected to open in 2024. Furthermore, it includes 545-sqm fully equipped four meeting rooms and a 450-sqm ballroom, in addition to a spa, fitness center, and swimming pool.
