Known for their wide portfolio of residential projects, especially across Cairo’s western suburbs, it is safe to say that it was Dorra Group that brought life to the currently sought-after location of Sheikh Zayed city by being the first developer to introduce gated communities to the area and having that early vision of raising our living standards and paving the way for greater Cairo’s developments.
This year, Dorra Group is to launch phase 2 of The Courtyard, catering to retail and office spaces with a special dedication to small and medium-sized enterprises; along with the launch of its operational Capital Business Park’s much anticipated branded retail venues at it’s promenade, throughout phase 1 and 2.
The Courtyard is the second business complex in the heart of Sheikh Zayed, western Cairo by Dorra Developments, designated mostly for young entrepreneurs and small to medium sized business ventures.
Invest-Gate is delighted to join Egypt’s construction and development giant, Dorra Developments, on a special tour across its latest offering-The Courtyard as well as Capital Business Park’s retail promenade accompanied by its Sales Director Yassin Mansour and their Marketing Director Karim Sultan, to shed light on the group’s modern take on the office space and retail market and how The Courtyard is to cater to the needs of small and medium-sized enterprises, as well as, the surrounding community.
What is special about The Courtyard?
The Courtyard is a mixed-use complex, serving about 30,000-40,000 of Sheikh Zayed residents. It is designed to provide high-end and value centric office spaces for administrative SME’s as well as medical practices. We started this project about two years ago; and recently the project’s first phase was delivered and we did exceptionally well.
Our goal was to have the first cost effective business complex in the area of Sheikh Zayed for retailers, commercial and administrative organizations that additionally was immediate for delivery, taking out that burden of having to wait a couple of years for your property to be realized. We are delighted to say that this project, today, is ready for delivery.
With The Courtyard, we are very selective with our clientele and the services provided in our premises to make sure that we live up to the standards we claim and the commercial distinction Dorra Developments has become known for in the Sheikh Zayed region.
It is safe to say that The Courtyard is centralized in the dynamic location of Sheikh Zayed and its unit prices on offer are very competitive and attractive to clients given its location and the world-class design by our UK based designers and services provided.
In terms of design, Dorra Group sourced one of the best international architectural firm’s to design The Courtyard and was always keen on turning the exact same sketches and layouts to reality along the way. Successfully we did as seen in the original concept and technical rendering.
Given its design, what makes The Courtyard stand out among the rest today?
The Courtyard’s design and layout is entirely different than those available in Egypt today. Its buildings are somewhat similar to those boutique office parks in the cul de sacs of Europe. It’s very cosey.
Like residential units, The Courtyard is divided into clusters, meaning that we offer building’s as stand-alone unit’s to serve just one business or one client if required. Such a feature is not to be found elsewhere in Egypt and is a breakthrough in the office and retail market dynamics along with its excellent payment plan and immediate delivery, so basically you can begin today and not stress on your financial obligations.
Also we offer different sizes of office space- that range from 80 to 240 square meters, which effectively tackles those sme’s that need prime office location immediately. Again this size in office space is not available elsewhere and tackles a much-needed requirement by our market today.
In terms of matching the name to the design, The Courtyard is quite frankly a modern development with a subtle pop of color that’s true to its name-it’s a courtyard so everyone has central views in their clusters!
We have constructed the office buildings surrounding a façade all overlooking a wide space of greenery and water features like fountains and water jets, for example. Its simplicity in landscape highlights and complements such water features. The Courtyard has undoubtedly provided a relaxing and cohesive atmosphere for its clients to work and grow their business in.
How about the Retail aspect? We hear that there are some interesting venues opening up.
We signed on a really risqué and fun outlet that caters to a wide age group called the ‘Escape Room’-it’s actually more so catering to the community of Sheikh Zayed city. Details on this will need you to come and experience it so we don’t ruin the surprise!
Along with that we have begun signing on a few selected brands that are very promising in growth and we want to support their success as they have become very popular with the Egyptian market.
Let’s recap, Immediate Delivery and Flexible payment plan; can you tell us details on this?
Well as mentioned… The Courtyard is ready for sale and we provide flexible installment plans over three to five years post delivery. Down payment’s are competitive at 20% whilst the market norm for a ready built property is at 35% with other developers. This option we’ve provided is not available today in the market and as a general market rule all projects are to be handed over only when all payments due are completed. Here, at The Courtyard, clients are to buy their desired units, move in, and enjoy an installment plan of three years or five years with post delivery.
Most companies sell first and then spend three years or more to handover their projects, depending on the contract terms of course. On the contrary, as our client, you move in and spend the following three to five years completing your payment plan-such an option is not to be found elsewhere and it is our benchmark for today’s market with it’s current challenges.
And is The Courtyard entirely sold out today?
Not entirely, the first phase is sold out. In fact, we have very well known businesses and brands that are to fully operate at The Courtyard very soon as we plan to launch the inauguration of the project by early 2018. Now we are completing its second phase and we just pre-launched its sale’s. We are receiving great feedback and have already guaranteed the sale of 75% of the second phase already; and have the remaining 25% now on a special offer for one month. I say this because we as Dorra Developments will be increasing the value of these units by 15% at the end of August due to the current economical surge happening in Egypt that is out of our control.
Totally understood, you mentioned medical practices, could you elaborate on this?
Off course, by medical, we mean clinics and small medical centers and consultancies. We have designated an entire block within The Courtyard premises for medical services, featuring clinics of all specialties to serve to the neighboring residences like The Address which we developed a few years back. It is worthy to say that The Courtyard was initially born out of The Address residential project.
Finally, what is your current turnaround with regard to tenants at The Courtyard?
We have over 150 companies that occupy The Courtyard today, 40 of which are currently in the final phases of furnishing and fitting out their units as we speak.