Il Cazar Developments Makes North Coast Debut with EGP 30 Bn Investment: Unveiling Safia in Ras El Hekma

Il Cazar Developments Makes North Coast Debut with EGP 30 Bn Investment: Unveiling Safia in Ras El Hekma

Il Cazar Developments has solidified its position as a leading real estate investment company with the unveiling of its latest project, Safia, located in the Ras El Hekma area of the North Coast, Invest-Gate reports.

Safia is a residential and hotel project featuring terraces starting from 3 m and reaching heights of up to 40 m, ensuring that all units offer stunning sea views.

The project is situated at Kilo 186 on a 180-acre plot of land, providing ample space for the development of a high-quality, distinctive multi-use project. The project’s total investment value amounts to EGP 30 bn.

Nader Khozam, Chairman and CEO of Il Cazar Developments, expressed his utmost satisfaction with the launch of the Safia project in Ras El Hekma, North Coast. He highlighted that it presents an exceptional investment opportunity, given Ras El Hekma’s unique strategic location and tourist-friendly environment.

Khozam further emphasized that the Safia project embodies innovation and excellence, aiming to provide investors with a distinctive investment experience that meets their aspirations and adheres to global quality standards.

Additionally, the company looks forward to the project’s contribution to supporting the local economy and creating new sustainable job opportunities for the local community.

The project relies on unprecedented designs in Egypt, overseen by the office of engineer Raef Fahmy, a specialist in designing leading urban projects, along with a team of experienced engineers and specialists in the field.

Construction is scheduled to commence in the near future, with project completion expected by 2029, as Khozam revealed. He highlighted the significant urban development observed in the North Coast recently due to the substantial volume of ongoing projects, intense competition among companies, and the government’s plan to develop the roads leading to the North Coast.

These factors have increased the investment value of the area, making it attractive to a larger customer base, particularly with the government’s intention to operate the area year-round rather than just during the summer season.

Therefore, the Safia project aims to offer innovative and contemporary features, with a construction ratio of only 15% of the total area, dedicating the rest to lagoons, landscapes, and services.


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