Rady Mostafa Rady, Chairman of TOREC Developments, disclosed that reservations for the initial five buildings within Saba Residence project in the northern expansions of 6th of October, comprising a total of 120 apartments, were swiftly filled within a mere 55 minutes of the electronic reservation launch, Invest-Gate reports.
He highlighted that electronic reservations commenced today, Sunday, October 13, 2024, for the first five buildings of Saba Residence project, commencing at 10:00 am. Originally slated to continue receiving electronic reservations until midnight, all building slots were claimed in under an hour, underscoring the immense demand for the project.
Moreover, he announced that electronic reservations will be open daily for 5 buildings in the Saba project until Thursday, October 17, 2024. Saba Residence project offers 25 buildings with a collective 600 apartments, with application forms accessible on the website of the Housing and Development Bank as referenced in the reservation booklet.
On his part, Mohamed Anwar Hilal, the CEO of TOREC Developments, indicated that prospective buyers are expected to finalize the remaining advance payment, amounting to 15% of the unit price, between October 22nd and November 7th, 2024. Contracts with customers are set to be signed starting November 17th, 2024.
Furthermore, he detailed that customers select their desired units electronically, with the cash price per sqm for Saba project units set at EGP 17,300, exclusive of additional fees and administrative costs. Payment plans spanning 3, 5, and 7 years are available, with apartment sizes ranging from 90 to 141 sqm, all featuring 3 bedrooms but varying in room dimensions, each unit comprising 2 bathrooms.
It is worth noting that Saba Residence is situated on the Boulevard Axis within the northern expansions along the Middle Ring Road in 6th of October. Comprising 85 buildings, the compound accommodates a total of 2040 units. The sales strategy for this project has been segmented into 3 distinct phases, with the initial phase presenting a selection of 600 units for sale.
