AlKarma Developments has rolled out its newest property project in west Cairo’s Sheikh Zayed, called “AlKarma Gates,” with investments totaled at EGP 1.8 bn, intending for completion by 2024, Invest-Gate reports.
Spreading over a land area of 36 acres, with a built-up area of 13.5%, AlKarma Gates features 180 residential units, varying between standalone villas, townhouses, and twin houses, representing a modern architectural boom with its contemporary designs, Ahmed Abu Hussein, the Egypt-based company’s chairman, uncovered in a December 15 press release.
“With the first phase in line to be delivered soon,” the family-based integrated community offers five different designs for standalone villas, with areas ranging from 295 to 414 square meters. In contrast, twin houses cover an area of 235 square meters. Besides, townhouses at AlKarma Gates vary between 203 and 206 square meters.
“AlKarma Gates is being constructed using the highest-quality material, in compliance with international standards. The gated community is supported by a wide range of services and means of comfort that we have made a top priority in all AlKarma’s projects,” Abu Hussein further stated.
According to the chairman, AlKarma Gates aspires to offer an upscale and luxurious lifestyle, providing residents with four outdoor parks, in addition to several sports clubs, kids areas, green spaces, commercial malls, an open gym, a 4,200-square-meter clubhouse, and many other services and amenities.
The key aspect of AlKarma Developments’ business strategy is to pump additional investments into the Egyptian real estate market to establish some high-end integrated urban communities, especially with the developer being one of the first runners to introduce the idea of gated compounds to Sheikh Zayed.