Gasser Bahgat, Chairman and CEO of Madaar Development Company, reveals the details of the company’s project, Azha Ain Sokhna, during his meeting with the real estate sector editors on the sidelines of their visit to the project, Invest- Gate reports.
He further remarks that Ain Sokhna has now turned into an important and wonderful place to reside, especially for Cairo residents and for the residents of the New Administrative Capital (NAC) in the future.
Additionally, Bahgat notes that the current internal road network contributed to saving time to the extent, as the trip time to Ain Sokhna became less than the trip time between the assembly and Zamalek.
Azaha Ain Sukhna is a tourism project that spans over 400 acres, with a 700m-beach façade and investments of EGP 6 bn.
In this regard, Bahgat states that the project consists of about 2,500 housing units designed with the latest in green architecture technology and modern construction methods in all fields.
The project features Downtown, five-star hotels, water games, restaurants, cafes, a private beach and a special club for members. Moreover, Bahgat stresses that the project provides more than 4,000 direct jobs and thousands of indirect jobs.
Furthermore, he discloses that the company is set to start its second project in the North Coast in 2022 at an investment of EGP 8 bn, stressing that the company plans to invest about EGP 22 bn in the Egyptian real estate market.
Moreover, he points out that the ongoing construction expansion projects in Sokhna will increase due to the doubling demand on the site for its importance and natural and service features, which qualifies it to absorb new projects.
He adds that the company is partnering with distinguished global expertise in real estate, including YBA, Benoy, Omni View, WATG, Hany Saad, MemarK Moharram Bakhoum RMC, BW, Raouf Fahmy, Barton, Well More.