Arab Developers Holding announces its investment plan driven by its long history and ambitious business strategy kicking off two new brands, “Nyoum” for residential projects, and “Sia” for coastal projects, Invest-Gate reports.
Gamal Fathallah, chairman of Arab Developers Holding, confirms that the company has a new business strategy based on several pillars. Most notably commitment with its customers and maintaining their confidence and raising their level of satisfaction. Fathallah notes, “With the entry of Arab investors to the company’s shareholders’ structure, it was decided to change its name from Porto Group to Arab Developers Holding, in line with the vision of new board of directors and desire for formal and fundamental change that would contribute to enhancing the company’s reputation in the real estate market.”
He discloses that the company’s new business strategy led to results transformation from losses of EGP 9 mn during the first nine months of 2020 to record EGP 91 mn in profit in the same period for 2021. Further, the company’s total projects portfolio includes 15 projects, 10,500 sold-out units, and 7,500 delivered units.
The company’s total land bank includes 5.27 mn sqm, consisting of land plots that are 100% owned by the company and some are revenue shared projects partnerships.
Moreover, he declares that since the company’s inception, Arab Developers Holding has invested over EGP 10.5 bn to complete around 31% of its total work in progress across all of its local and regional projects.
He continues, “The company has developed various projects throughout the Arab Republic of Egypt and decided to take our experience abroad to launch and relaunch our two promising projects Sia Aghadir (formerly Porto Aghadir) in Morocco, and Sia Dead Sea (formerly Porto Dead Sea) in Jordan.”
“The Arab Developers Holding’s current shareholder structure includes the Emirati Asmak Company with 19.7%, investor Abdul Salam Masood Abdelkarim with 8.5%, and some Arab and Egyptian individuals. Additionally, the company aims to record sales exceeding EGP 2 bn in 2022,” he explains.
He stresses that the Central Bank of Egypt’s mortgage finance initiative at an interest rate of 3% is one of the distinctive mechanisms carried out by the state to bridge the gap between the purchasing power of customers and property prices, and enables a large group of citizens to affordable housing units with their financial capabilities.
Moreover, he believes that the real estate market will see price increases during the next stage due to the high cost of construction process but his company is offering prices that achieve a strong growth rate for customers in the value of their units.
Arab Developers Holding’s CEO Ayman Bin Khalifa states that the company plans to deliver more than 2,000 units in its projects during the current year, noted that the company plans to inject investments in construction worth EGP 1.5 bn in 2022.
He says that the brand of Arab Developers Holding includes Nyoum, which is intended for residential projects developed by the group, and Sia, which is dedicated to coastal projects, and the brand of the projects has been changed to Nyoum or Sia according to project nature.
He further points out that the Nyoum brand now includes projects of Nyoum October, Nyoum Pyramids, Nyoum Assiut, Nyoum New Cairo, Nyoum El Mostakbal, and Nyoum Cairo Residence. Meanwhile, Sia brand now includes projects of Sia Villagio in Golf Porto Marina North Coast, Sia Matrouh, Sia Lagoon, Sia Island 1, and Sia Island 2.
He points out that the company’s portfolio of projects includes various projects in multiple areas that achieve geographical diversification in the local market, including the Nyoum El Mostakbal project.
Spanning over 390,978 sqm in New Nasser city (Al Hadaba), the Nyoum Assiut project is an integrated project includes apartments, villas, shops, a hotel, a school, and clinics. The development was launched in 2020.
The Nyoum October project was launched in 2013 on an area of 1.381 mn sqm. The project includes the largest fountain to be opened soon, the largest open mall, in addition to a hospital, a club, and three schools.
In the meantime, the Nyoum Pyramids project embraces luxury apartments with swimming pools, a social club, a tourist walkway, and a hotel with a capacity of 44 rooms. The project is located on the Cairo-Alexandria Desert Road, near the Grand Egyptian Museum and Sphinx International Airport.
He adds that the Nyoum New Cairo project is a residential tower that includes luxury apartments and a huge commercial mall. In addition to the Nyoum Medical Hub project, which is a medical project located near New Cairo.
As for the projects bearing the Sia brand, namely are Sia Lagoon, which is situated within the Golf Porto Marina project, on 41056 sqm. The lagoon was opened in the project last summer, which was implemented by the International company Crystal Lagoons.
Moreover, the Sia Matrouh project is part of Porto Matrouh, besides, the Sia Villagio project in North Coast, which includes 539 villas and 42 shops.
Outside Egypt, the company is developing the Sia Aghadir and Sia Dead Sea projects, as the Sia Aghadir project spans over 1.2 mn sqm. It is an integrated residential, tourist-entertainment project.
The Sia Dead Sea project stretches over 19,534 sqm, and the company has delivered the first phase, and the second phase will be launched soon that includes 440 apartments, 120 hotel rooms, and 40 shops.