El Masria Group Development launches Isola Sheraton project in Heliopolis, with investments exceeding EGP 6 bn, Invest-Gate reports.
Walid Wafik, chairman of El Masria Group, explains that Isola Sheraton project spans over 45 acres and it is the first residential, commercial, and administrative compound in Heliopolis. The structural ratio of the project’s residential part is 15 %, while 15% is allocated to commercial activity.
Additionally, the project is located a few meters from the heart of Heliopolis, Nasr City, and the airport. Isola Sheraton features 47 buildings with a total of 850 units of various sizes, 90 townhouse villas, and a commercial mall on an area of 1,500 sqm, which is the largest in the Region. The mall includes shops, administrative and medical headquarters, banks, and multi-National companies.
Moreover, the project comprises a social club, a sports walkway around the buildings, and a wheeled track that doesn’t overlap with car tracks, in order to provide the highest standards of safety for customers. Isola Sheraton also includes green spaces with lakes and waterfalls. Further, the project will be delivered within three years.
On his part, Ahmed Badr, head of the Commercial Sector of El Masria Group, says that the company targets EGP 3 bn in sales for the first offering of the project. Alike, the company plans to market the project over two years through a carefully studied marketing and sales plan that achieves a balance between the selling price and the implementation cost.
The company also eyes more than EGP 4 bn sales during the coming period, based on the continuous offering of new units within the company’s projects.
Wathek Wafik Elzenini, chairman of the board of directors of El Masria Group, clarifies that the company is implementing fully-executed projects, which are currently ready for immediate delivery, namely ISOLA OCTOBER in October Gardens, which is a residential project that includes duplex villas, penthouses, and two-level apartments, Beit El Masria project in the Gardens of October City, which is a medium housing, and Badr El Masria project in Badr City, which is also medium housing. The company’s portfolio of projects has more than 200 acres between New Zayed and Nasr City.
In a similar vein, Ahmed Riad, director of the Group’s Engineering Department, points out that the company has more than 2,000 units ready for delivery. Further, the company seeks to ensure that its projects meet all studies and licenses. It also aims to launch three different projects annually.
El Masria Group owns a portfolio of land that is officially approved and has legal papers. Among the most important of these upcoming projects are ISOLA NORTH project in the North Coast on Jarawla Bay, ISOLA GREEN project in the Green Belt along Zayed City, and ISOLA 4WAY project on El Mokhayam El Dayem Street, which is linked to all the main axes in Egypt and considered one of the most important areas for administrative projects during the coming period.
It is noteworthy that the company implemented more than 120 projects throughout Egypt, most notably Mohandessin, Heliopolis, Agouza, Alexandria, Nasr City, Maadi, and 6th of October City. It also delivered more than 10,000 residential, administrative, and commercial units since it was launched.