Al Ahly Sabbour has introduced the launch of the “Summer time” challenge in Ras Al Hekma and “At-East” in Mostakbal Metropolis, with a mixed funding of EGP 135bn.
Within the first quarter of 2024, Al Ahly Sabbour Developments expanded its land holdings by 1,045 feddan, marking a 36% development in its land portfolio. This contains 181 feddan within the first part of Mostakbal Metropolis, reinforcing the corporate’s pioneering standing because the foremost actual property developer within the space. Moreover, 864 feddan have been acquired in Ras Al Hekma on the North Coast, enhancing the corporate’s presence on this prime location and rounding out its North Coast initiatives. These new ventures are set to begin in 2024, heralding a yr of contemporary beginnings for Al Ahly Sabbour.
Ahmed Sabbour, the corporate’s Chairperson and Managing Director, has revealed two main initiatives for 2024. These initiatives underscore the corporate’s dedication to increasing its land portfolio and show the Egyptian actual property sector’s resilience and its pivotal function in driving financial development and sustainable improvement. Ras Al Hekma is poised to grow to be a hub for tourism funding, whereas Mostakbal Metropolis is about to rework residential actual property in East Cairo.
After in depth market analysis, the choice was made to inaugurate 2024 with two standout initiatives. Summer time in Ras Al Hekma covers roughly 864 acres and is poised to grow to be a sought-after vacation spot, reflecting our confidence in Ras Al Hekma’s potential for tourism improvement. At-East in Mostakbal Metropolis spans 181 feddan and represents the ultimate parcel in Part I of town, including to our spectacular monitor file on this vibrant neighborhood.
Sabbour has introduced that the ‘Summer time’ challenge, located alongside the Alexandria-Matrouh Highway, will quickly launch its first part with an funding of EGP 100bn and a gross sales goal of EGP 15bn for 2024.
Summer time is envisioned as a complete residential endeavor, full with a collection of neighborhood companies and leisure actions designed to supply residents an unparalleled residing expertise. A key facet of the challenge is its pure elevation, guaranteeing panoramic water views for all models. The grasp plan for Summer time is being crafted by WATG, a famend world agency with a legacy of designing premier luxurious resorts.
The At-East challenge, Al Ahly Sabbour’s seventh enterprise in Mostakbal Metropolis, is about to obtain an funding of EGP 35bn. The preliminary part will function a various array of standalone villas, twin houses, and townhouses, poised to make a big influence on the Egyptian actual property panorama, particularly following our in-depth market evaluation within the space.
Ahmed Sabbour highlighted that the projected gross sales for ‘At-East’ in 2024 are estimated at EGP 8bn. The design ethos of the challenge emphasizes cohesion and connectivity, with all models having fun with expansive views of lush greenery and water options.
The launch of ‘At-East’ is available in response to the overwhelming demand for Al Ahly Sabbour’s initiatives in Mostakbal Metropolis, constructing on the success of L’Avenir, Inexperienced Sq., Alaire, Wooden Stroll, The Ridge, and Uncommon. As the primary developer to finish initiatives within the metropolis, Al Ahly Sabbour’s extra land acquisition considerably bolsters its presence in Mostakbal Metropolis, the place it now holds roughly 1,000 feddan. With seven initiatives to its identify, Al Ahly Sabbour stays the biggest and most influential actual property developer in Mostakbal Metropolis.
