RAQ Development has unveiled Zawat Residence project, marking its inaugural venture in the 10th of Ramadan City, with investments surpassing EGP 6 bn across a sprawling 20-feddan expanse, Invest-Gate reports.

The launch event saw the presence of key figures including Alaa Abdellah, Head of the 10th of Ramadan City Authority; Samir Aref, Chairman of the 10th of Ramadan Investors Association; Maher Stino, an esteemed international expert; a host of officials from the Ministry of Housing; members of the House and Senate; as well as several prominent businessmen.

Wael Abu El-Saud, Chairman of RAQ Development, affirmed that the company’s latest undertaking adheres to the highest sustainability and smart home standards. This project emerged following extensive market research to pinpoint Egyptian market demands and customer preferences, culminating in a fresh concept aimed at revolutionizing the Egyptian real estate sector.

Furthermore, Abu El-Saud emphasized that this launch follows meticulous selection from a portfolio of significant Egyptian projects, blending tradition with innovation. Through the Zawat Residence project, RAQ Development aspires to redefine the residential experience in Egypt. By integrating contemporary designs that uphold Egypt’s rich heritage and employing cutting-edge sustainable construction methodologies, the company offers clients a distinctive opportunity to reside in dynamic communities tailored to surpass expectations.

Additionally, Ahmed El-Badry, Chief Commercial Officer at RAQ Development, disclosed that the project will unfold in multiple phases. Notably, over 40% of the initial phase was swiftly secured within a mere 6 hours of the project’s announcement and the commencement of reservations.

El-Badry attributed this remarkable response, despite the company’s nascent status, to the project’s robust designs within Zawat Residence, hinting at the overwhelming and prompt interest upon the opening of reservations.