Egypt-based property developer Mabany Edris has managed to market 60% of phase I of its newest flagship project in New Assuit, or “Asayla,” in three months only, despite market turmoil associated with the COVID-19 pandemic, Invest-Gate reports.
Aiming to cater to the various needs of Upper Egypt’s clients, Mabany Edris has conducted extensive market research studies, which uncovered the rising purchasing power and income levels of New Assiut buyers, and their willingness to own luxury units in distinguished communities, the company’s chief commercial officer (CCO) Ayman Nawar said in a press release on June 22.
Further, a new sales office has been opened in Assiut, Nawar noted, highlighting that another one is planned to be rolled out at Asayla’s site within days, in a bid to reach out to additional customers and provide project viewings.
Located at the heart of Upper Egypt, and with investments worth EGP 1.25 bn, the 130,000-square-meter compound overlooks multiple landmarks in New Assiut, namely the Smart Village and Sphinx University. It boasts diverse residential modules, varying between serviced apartments, townhouses, twin houses, and standalone villas, with spaces ranging from 200 to 350 square meters.
Asayla features a number of integrated services and amenities, including a clubhouse, three swimming pools, meeting rooms, celebration halls, kids’ playgrounds, restaurants, cafés, besides retail outlets for top brands.
Back in February, Mabany Edris has announced the finalization and submission of the project’s engineering drawings and designs, carried out by one of the top consulting offices, to the New Urban Communities Authority (NUCA) for revision to get necessary licenses and ministerial approval.
