Egypt-based property developer Madaar Development has announced plans to launch the second phase of its EGP 13 bn waterfront resort in Ain Sokhna, Azha, during Cityscape Egypt from March 27 to 30.
The second phase – or “Kastra” – will comprise a number of fully-finished residential units, with areas ranging from 73 to 139 square meters, overlooking vast lagoon spaces, Maged Salah, the company’s chairman and CEO, revealed during a press conference held on March 21 at the project’s site.
In addition, Madaar will also release some chalets in Azha’s first phase, dubbed “Tucana,” during the property show, Salah added, noting that units offered will vary between 151 and 284 square meters.
Clients will be offered a 10% down payment and ten-year installment plan, he highlighted.
Prime for a luxury experience all-year-round, Azha’s first phase will be fully handed over during the fourth quarter of 2019, offering 400 residential units, along with several other services such as Azha Beach Club House and Club M Sokhna, where residents can enjoy exquisite food by the resort’s private beach, the CEO noted.
Spreading over 400 acres, Azha is specifically designed to be an all-year-round destination, bringing a new vitality to the authentic lifestyle of a city resort living. The project boasts fully-finished residential spaces, including apartment complexes, villas, and twin houses, that are all equipped with a host of top amenities and a glistening shoreline, Salah said, adding that Madaar plans to also feature a number of serviced apartments and five-star hotels within the resort.
Meanwhile, Madaar plans to expand its land bank during 2019 as it seeks to acquire plots in Sheikh Zayed and New Sphinx cities, both in west Cairo, to develop further residential projects in these areas in the near future.