Ahmed El Adawy, CEO of Inertia Egypt, stressed that focusing on the implementation of the company’s existing projects is a key priority during the current period. The company has developed a strong investment plan for the current year to achieve the specified deliverables plan, indicating that the company aims to deliver 650 units in its projects within 2023, including 300 units in the Jefaira project.

He stated, in an exclusive interview, that Jefaira is the company’s largest project with a total area of 5.4 million sqm. The project consists of various units, including separate villas, twin houses, townhouses, chalets, apartments, and studios of various sizes, in addition to a large number of services that achieve an integrated life for clients within the project.

El Adawy pointed out that the company obtained the ministerial decision for the Jefaira project after signing the final contracts for the project lands following the transfer of the jurisdiction of the North Coast lands from Marsa Matrouh Governorate to the New Urban Communities Authority. This step gives the project more flexibility and efficiency in the detailed plan of the project and the rich variety of services within it.

He said: “The project includes three hotels with a total of approximately 400 rooms, in addition to hotel apartments, and we aim to start operating the first hotel in the project during the summer of 2025”. Moreover, Darko Construction Company and Modern Interiors Company have also been contracted to carry out new works in the Jefaira project with a total value that amounts to about EGP 450 mn.

El Adawy further explained that the contract with Darko includes the implementation of 76 buildings with a total of 189 units, and the contract with Modern Interiors Company also includes the implementation of 135 buildings with a total of 299 units. He clarified that these contracts come in light of Inertia’s interest in the priorities of delivery to customers, stressing that this will be in accordance with standards and requirements that maintain all quality elements in all details of the work items to be implemented.

El Adawy noted that providing services in parallel with delivery to customers is an essential part of the company’s business strategy, as the goal is not merely to populate units but to create an integrated life within the project; the company is establishing a medical unit in the Jefaira project until the hospital is established in the project. He explained that the company submitted a request to obtain approvals to begin construction of the hospital by the ministerial decision for the project.

He said: “We succeeded in selling about 5,000 units in our total projects, and the rest of the units are between implementation and finishing. In our projects, we aim to launch an integrated life for customers, based on sophistication, luxury, and quality of life.”

He mentioned that the company’s total project portfolio includes eight projects, with the implementation and delivery of four projects varying between residential and commercial in Cairo and the Red Sea, pointing to the extent of diversity in the company’s project portfolio in terms of activities and locations, which meets the needs of the company’s current and targeted clients.

He stated that the company has completed the delivery of the Soleya project in the West Cairo area, which is an integrated residential project, located on an area of 19 acres. The project includes residential apartments, townhouses, twin houses, and separate villas, with a total of 172 units, with a construction ratio of only 22% of the total project area.

He noted that the first and second phases of the Joulz project, which is an integrated residential project located on the Cairo-Alexandria Desert Road, have been delivered. The project is located on an area of 115 acres and includes 1,152 residential units ranging from residential apartments, townhouses, twin houses, and separate villas, with areas miscellaneous. The company has also begun project deliveries.

The G-Cribs Phase I & II project in El Gouna has been fully delivered. It is an integrated residential project in the Red Sea located on an area of 42,000 sqm. The project includes 330 units of various sizes between studios and residential apartments, which offers its residents an opportunity for a life full of simplicity and luxury.

El Adawy pointed out that the company is implementing the Brix project, which is an integrated residential project that includes 194 units, located on an area of 44,000 sqm. The construction percentage of the project is 25%, and it includes units of various sizes starting from 82 meters up to 275 meters for apartments.

He explained that the company succeeded in delivering the Veranda project in Sahl Hasheesh, which is an integrated project that includes 183 units. The company also completed the implementation of the Medipoint Sheikh Zayed project, which is a medical commercial project that includes 29 clinics on an area of 3,000 sqm in Sheikh Zayed.

In addition, the company also completed the implementation and delivery of the West Hills project, which is an integrated residential project that includes 98 units, located on an area of 32,000 sqm, and includes a variety of units between apartments and duplexes.

El Adawy said that the company’s sales to customers from outside Egypt amount to about 13% foreigners, most of them being from the Arab Gulf, and there was a strong presence of Arab Gulf nationals in the North Coast region during the summer season of 2023. Furthermore, Egyptian real estate is characterized by intense competition due to its relatively low prices compared to international prices, with services available after New Alamein City was made operational.

He added that Inertia is present at Cityscape Egypt 2023, as part of its plan to participate in strong exhibitions and events. During the exhibition, the company is offering distinctive units in the Jefaira project with various systems and payment periods of up to nine years.