MAVEN Developments launches “Cali Coast” project in Ras El Hekma, North Coast, with investments of EGP 15 bn, Invest-gate reports.
The 230-acre project includes more than 2,500 housing units, varying between villas, chalets, and hotel units, with a 13% built-up area. Mohamed Youssef, chairman of Maven Developments and board member of RiverWards Group says, “We are proud to work with a group of expertise, international architects, and designers to provide our customers with the highest levels of sophistication and quality, to meet their needs.”
Youssef remarks that this project is the company’s second project in Egypt after the Baymount project in Ain Sokhna, which covers an area of 76 acres, with investments of EGP 4 bn.
Mohamed Rushdy, founder and president of RiverWards Group, vice president, and board member of Maven Developments comments, “The Cali Coast project’s design is inspired by the California coast, with 600-m beachfront on an area of 30 acres. Besides, Maven adopts digital technologies based on artificial intelligence to check on the infrastructure health, in addition to an early warning system to conduct maintenance works creatively in cooperation with the Roadbotics company.”
In this context, Erik Hokanson, founder, and head of the architectural department of AE7 notes that the project includes a commercial and recreational area, the Boardwalk, which spans over an area of 500 m, in addition to the artificial Lazy River. Moreover, the project includes more than 150,000 sqm of open waterbodies, lakes for swimming, and private swimming pools for women.
Basil Kamel, dean of the faculty of architecture at the AUC states, “Based on the partnership between the AUC and MAVEN Developments, two research centers, following the AUC, will be established in Maven’s projects; one in the Baymount Sokhna and the other one in the Cali Coast Ras El Hekma project.”
Furthermore, Khaled Tarabieh, assistant professor of sustainable design and vice president of the architecture department at the AUC adds, “Our alliance with Maven comes from our belief that the real estate market needs to move towards creating sustainable communities for future generations in light of the challenges facing Egypt.”
On his part, Omar Shelbaya, head of sales at AXA insurance company mentions that AXA will provide several insurance services to Maven’s customers, such as roadside assistance, premium protection service, insurance on all project units, and remote medical assistance service.
Then Amgad Nafeh, head of the corporate sector at Vodafone comments, “The partnership between Maven and Vodafone has been built on strong foundations to provide the best comprehensive technological services, not just telecommunications and internet services to Maven customers. This will contribute to ensuring that the projects are coping with future technologies when delivering units in the future.”
The press conference was held in the presence of Mohamed Rushdy, founder and president of RiverWards Group, vice president and board member of Maven Developments, Mohamed Youssef, chairman of Maven Developments and board member of RiverWards Group, Erik Hokanson, founder and head of the architectural department of AE7, Omar Shelbaya, head of sales at AXA insurance company, Basil Kamel, dean of the faculty of architecture at the AUC, Khaled Tarabieh, assistant professor of sustainable design and vice president of the architecture department at the AUC, and Amgad Nafea, head of the corporate sector at Vodafone.