As the New Administrative Capital’s (NAC) news makes headlines, developers of a diverse array of residential and commercial projects are endeavoring to gain momentum. Among this rivalry, Akam Developments comes into play with one perfect archetype, outshining its peers and promising a top-notch dream-like lifestyle at its new capital’s development – “Scenario.” Located at the heart of NAC, Scenario sticks out as the optimum choice for those seeking a tranquil and rejuvenating environment, while digging for the offerings that best meet their aspirations.
Edrees Mohamed, Akam Developments’ chief commercial officer (CCO), uncovers the back-scene story behind his company’s success, revealing updates on the latest at Scenario project. Under the tagline of “the innovation that meets clients’ needs,” the CCO shares with Invest-Gate the developer’s vision to create a unique identity for a mixed-use development, which boasts an exceptional competitive edge and contributes to the Egyptian real estate market’s growth and development.
Akam Developments has managed to become a widely known brand in Egypt’s property sector within a very short time, how would you describe your journey?
It all started when three veteran real estate and architecture companies, led by Saudi-based Al Muaid Consulting Engineers, allied together and decided to bring their local and regional expertise and extensive track record into the Egyptian market through the inception of a new-mindset company, or Akam Developments, in 2018.
As we embarked on our journey, we have had a clear vision to stand out and position ourselves among Egypt’s top ten developers within five to seven years. Depicting our values and concepts, we launched our thoughtfully-designed project in NAC, or Scenario, aiming to address the actual demand of home buyers, based on reliable studies preliminarily conducted by our in-house research center to find out the most innovative and effective solutions that fulfill the Egyptian households’ everyday needs. Out of our firm belief that happiness and quality of life represent the backbone of any property industry, we are always in search of the best practices to promise our clients a deep sense of well-being and build a happiness-centric community that is tailored for all family members.
How does Akam Developments distinguish its projects among the fierce competition?
Backed by our own research and analysis team, we managed to assess the market’s real needs and ensure that our mixed-use development is having what it takes to provide an unparalleled experience for its residents.
Our research found out that home seekers are more inclined to buy a value-for-money residence at any project, which has constant access to entertainment and leisure facilities, while meeting different income levels amid current price fluctuations. We also identified that Egyptians mostly purchase housing units to complete their joy equation and enhance the quality of their lives.
Consequently, we set the company’s ultimate goal of delivering and entrenching felicity concepts in the communities we create. Our operations management team took it from there and came up with the brilliant idea of Scenario.
How did Scenario manage to attract high sales, what is distinctive about this project’s identity and target clientele?
“Scenario” basically refers to the likely sequence of events in a particular context and that is exactly how we want to portray our one-of-a-kind project. When developing the compound, we put ourselves in our clients’ shoes, trying to deliver the most favorable scenario of their everyday lives in one interconnected community. Scenario is the fruit of a three-year study that deployed the world’s latest research methods and standards to answer the question of what is missing to bring in true rejoice and fulfill people’s most pressing needs.
Creating a relaxing environment was introduced as one of Scenario’s fundamental concepts, how do you promote this in your project?
We want Scenario to be perceived as a synonym for relaxation; once you pass through the compound gates, you feel relieved and serene. Given that the average household started to look for developers adopting creative ideas that can subdue the high cost of living, Akam Developments has been keen to introduce out-of-the-box solutions within the compound to meet residents’ daily needs at lower costs.
As many people now tend to cut food delivery fees and increase their dependence on home-made food, Scenario boasts the first central kitchen that offers a variety of raw, undercooked, and well-done food products at competitive prices. You can also monitor your meal prepping in this area on your TV screen.
As for services and entertainment, Scenario features five fully-equipped gymnasiums, situated in close proximity to on-site nurseries so that parents can easily check up on their kids while working out. The compound also encompasses abundant restaurants and cafes, a VIP cinema, a grand theater, and a free-seating concert hall for all residents, among other indoor leisure facilities across your home.
In addition, we enable smart learning techniques for students at all different levels through the establishment of an interactive library within each building in the compound. Furthermore, we will soon announce the signing of a turnkey deal with a specialized international institution to advocate knowledge and nurture rising talents.
Similarly, relaxation concepts are tangible in our project’s master plan and interior designs, which were carried out based on psychological and social studies to ensure the maximum level of joy and elegance to the end consumer. With the current rapid digital transformation in mind, leveraging and integrating more smart applications also marked a unique selling point for Scenario. Residents have access to all the information on the facilities and entertainment locations through a holistic digital platform, which also offers online grocery shopping with home delivery.
In short, we are aware of the different day-to-day scenarios going on in our customers’ heads and we are certain to plan their lives ahead and create a place that satisfies their needs, while being cost-effective.
What are the latest updates on Scenario’s construction, sales, and delivery phases?
The 40-acre project is being developed over four phases, with phases I and II already sold out, while the third is nearing completion. We also announced the launch of the commercial part of Scenario, called “Ainava,” which comprises offices and clinics with areas starting from 39 square meters.
Given the changes in consumer preferences following the economic overhaul, how did Akam Developments keep pace with the new market dynamics?
After the recent economic reforms, some companies resorted to the establishment of small-sized units to be sold at more affordable prices, regardless of the clients’ needs. Such an approach required specific measures such as changing the interior designs or cutting some portions of the properties (ex: a bedroom). However, we found that the most sought-after residential units were those ranging between 170 and 220 square meters, comprising three bedrooms, two toilets, a reception, a living room, and two terraces. To make a perfect balance, we figured out a way to deliver smaller-sized units that retain the same internal division.
Why did you choose NAC as an ideal location for your first residential project?
What the new capital offers is aligned with our concepts. As one of the fourth-generation cities, the state’s megaproject was initially executed to serve people’s interests and save them more time and effort. These government endeavors essentially contribute to boosting real estate development in Egypt, while encouraging more market players to get on board.
How did partnering with a GCC investor, Al Muhaid Consulting Engineers, foster your development strategies, and do you have plans for more collaboration deals?
Al Muhaid is an experienced investor who truly admires Egypt and has a firm belief about the current political leadership. We are all confident that the ongoing transformational moves in Egypt’s real estate development sector will help the country regain its position on the global real estate investment map. Undoubtedly, Al Muhaid’s wide knowledge and expertise add up an impressive value to our development records.
What’s in the pipeline? What are your expansion plans and which destinations are you heading to?
A new project in NAC is underway, however, further details shall be revealed by early 2020. We promise our clients a new eye-opener that emphasizes our approach and demonstrates that none of Scenario’s success came by coincidence.
Additionally, we are currently mulling the opportunity to expand into the second-home market, thereby promoting new innovative ideas and strategies.
Beyond that, I assure our clients that Akam Developments will never launch a new project unless it provides true innovation based on well-researched studies and plans.
On a final note, we do not allow ourselves to force clients to make hasty purchase decisions by bombarding them with excessive marketing messages, solely devoted to commercial purposes. We always encourage potential clients to take the time they need to opt for the product that best satisfies their aspirations.