New Generation Developments (NGD) launches its flagship project L’HIVER on the beach area in New Alamein City, with EGP 4 bn targeted sales, Invest-Gate reports.

Assem Fadel, chairman of NGD, says that L’HIVER is an integrated urban project that spans over 75 acres. The project’s built-up area reaches about 16.5% of the total project size and the rest are green spaces and lakes to achieve welfare for customers within the project.

Additionally, 95% of the units overlook lakes with a sandy beach suitable for swimming. The project also features a commercial area, which is the only one overlooking the international coastal road, in addition to a hotel and three marinas for yachts. Moreover, L’HIVER includes various services that integrate with existing services in New Alamein City, which achieve an integrated life model for residents throughout the year.

Fadel explains that the company cooperated with KAD, one of the leading companies in designing projects, to design the project. The project is also managed under the supervision of the French company FONCIER, which ensures cooperation with strong success partners who have a strong precedent and experience in project development.

Moreover, the company has a strong and diversified land portfolio. Further, it will launch projects according to a specific and gradual expansion plan.

“The company’s second project will be launched soon, which integrates with the company’s previous business and meets the needs of customers,” Fadel adds.

For his part, Ehab Labib, general manager of NGD, clarifies that the project will be developed with self-financing according to a specific construction plan that will start before 2022-end.

Labib adds that the project will be delivered by the end of 2025 and the targeted sales for the first offering of the project amount to about EGP 1.5 bn. It is expected that the project will be sold out within a period ranging from six to eight months.

“The company has a strong precedent in its first project, Botanica, in the NAC and decided to invest in New Alamein to integrate with the state’s plan to develop new cities,” Labib states.

Ahmed Sameh, CCO of NGD, explains that L’HIVER includes various units of chalets, villas, townhouses, and twin houses, with different areas starting from 42 up to 220 sqm. Furthermore, the first tennis tournament will be held in the sports club located in the project in the winter season.

The company offers various payment systems for clients, including 5% down payment and the rest over seven years, 6% down payment and the rest over eight years, and 9% down payment and the rest over nine years. These payment systems are flexible to suit the targeted clients.