New Jersey Developments has unveiled its latest residential project, “Jamila,” on the North Coast, with initial investments totaling up to EGP 50 bn, Invest-Gate reports.
This significant milestone coincides with the company’s announcement regarding the latest construction progress and delivery updates for its flagship projects, “Green Avenue” in the New Administrative Capital (NAC) and “Jura El Galala” in Ain Sokhna.
New Jersey Developments continues to deliver projects “Green Avenue” project located in the NAC, where a total of 530 units are slated for completion by the end of 2024.
“Green Avenue” is positioned to emerge as a new cultural epicenter in New Cairo, featuring a cultural waterwheel, indoor and outdoor exhibition spaces, and regular performances.
Moreover, the company has projected the commencement of deliveries for the “Jura El Galala” project in Ain Sokhna, offering luxury hotel units, starting from next year.
Recognizing the strategic significance of the North Coast region, New Jersey Developments has injected investments of up to EGP 50 bn into the “Jamila” project, spanning 130 acres and situated 263 km from Cairo. This investment is geared towards elevating the region’s allure as a prime tourist and investment hub.
The project encompasses a diverse range of residential units, including chalets, duplexes, hotel apartments, studios, standalones, townhouses, and villas, all featuring direct sea views and varying in size from 75 sqm to 217 sqm. Scheduled for completion within three years, the project is set to be delivered by 2027.
In a bid to ensure environmental and community sustainability within the “Jamila North Coast” project, New Jersey Developments has collaborated with Prime Consulting to leverage eco-friendly building materials and energy-efficient techniques.
A substantial 91% of the project area is designated for green spaces and water features, offering residents a distinctive living experience that seamlessly integrates nature with contemporary, sustainable design. The project’s strategic location provides a harmonious blend of tranquility and accessibility, positioned 4.5 hours from the Dabaa/Cairo Road and a mere 20 minutes from Marsa Matrouh Airport.
Eng. Girgis Youssef, CEO of New Jersey Developments, remarked on the occasion, stating: “We take pride in our contributions to advancing the real estate development sector in Egypt. With over 20 years of accrued market expertise, we remain steadfast in our commitment to delivering innovative real estate products that adhere to international quality standards, keeping abreast of market trends, and supporting Egypt’s urban and sustainable development objectives.”
He further emphasized, “The progress in our flagship projects, Green Avenue and Jura Galala, alongside the launch of the ‘Jamila’ project, underscores our unwavering dedication to our expansion strategy. We aim to further enrich our expanding real estate portfolio by delivering exceptional projects in pivotal locations to bolster the national economy, aligning with Egypt Vision 2030.”