CEO of Madaar, Eng. Ahmed Ehab announced the company plans to pump direct investments worth LE5b in the Egyptian market during 2023, bringing its total investments to L 35b.
He added that the company has outlined expansion plans, which it aims to carry out major real estate touristic and residential projects. These projects will be part of the company’s investments, which started with executing the Azha Sokhna in 2015.
Ehab’s remarks came during his meeting with real estate sector editors in their visit to Madaar’s Azha Ain Sokhna, as they probed the challenges facing investment and urban development in Egypt, as well as the future of urban development and real estate export. He briefed the editors on the company’s vision for the current year.
He added that the company continues to carry out Azha Ain Sokhna’s construction, after investing billions of Egyptian pounds, to deliver new units in the coming months, stressing that Azha Sokhna’s resort was the core of the company’s investments in the Egyptian real estate market as Ain Sokhna is one of the most important coastal cities in Egypt and the Middle East.
The CEO of Madaar noted that Ain Sokhna has become the preferred residence for many citizens, as well as being one of the most important cities attracting foreign investments in Egypt.
Ehab added that the company constantly considers its clients expectations and offers various flexible payment plans that suits their needs.
He highlighted that Madaar constantly studies the market, its target audience financial needs while analyzing various innovative and high- end approaches to stay up to date with the clients’ demands and expectations. Through strong partnerships with distinguished international consultants, Madaar was able to accomplish a first residential destination of its kind in Ain Sokhna.
The CEO of Madaar pointed out that Azha Ain Sokhna provides its visitors with an unprecedented experience of life as it spans over 400 acres, with a 700m-beach front in a touristic area, which is very distinctive in its natural beauty, and golden sands on the coast of the Red Sea,”.
He also added that they succeeded in building and developing 70% of Azha Ain Sokhna after opening Tanoak hotel, which is the first touristic hotel within the project as it aims to attract international tourism to Ain Sokhna, with investments valued at EGP 350m.
“Tanoak hotel includes 150 units, including luxurious suites and rooms, as the company will finish building four other hotels in the upcoming years,” Ehab clarified.
The CEO of Madaar revealed that Azha Sokhna resort would see the inauguration of its most significant and luxurious residential phase during 2023.
Azha Ain Sokhna resort witnessed the launch of Crystal Lagoon’s first phase, providing more than 6-kilometer sandy beaches with an area exceeding 20 acres, which has been developed by the renowned international Crystal Lagoons Company. In addition, the company has completed the Entry Park, built on an area of 3 acres, which is overlooking the Crystal Lagoon. Madaar started to carry out the Central Park with an area of 5 acres on the lagoon for the convenience of its customers, nature lovers, and quiet areas, with various entertainment areas and restaurants,” he said.
Ehab revealed that Madaar provides more than 2000 direct job opportunities, as well as thousands of indirect job opportunities, as the company will continue to pump further investments during the upcoming period through distinguished projects.
He uncovered that Azha North, Madaar’s newest star is scheduled to start in construction during the ongoing year with investments worth EGP 25bn, confirming that the company plans to inject other investments in several pioneering projects to build more modern and exclusive societies, provided that it will opens a number of new offices to facilitate access to its customers all over Cairo
The CEO of Madaar stated t Azha North spans over 250 acres (1 million sqm) and is located in Ras Al-Hikmah Bay, one of the most distinguished areas on the North Coast.
“It is located in kilo 212 on Alexandria-Matrouh Road, 73 km away from Marsa Matrouh and it is close to the recently developed infrastructure and road network, which enhances the competitiveness of the project in the North Coast,” Ehab clarified.
He also added that Azha North is characterized by many services, including water bodies and green surfaces, that represent about 86% of the project’s total area, as well as beaches spanning 12 Km, of which 650 meters are on the seashore, while the remaining areas will be Crystal Lagoon’s lakes.
On her part, Dalila El Shaer, Head of the Development at Madaar affirmed the company’s endeavor to achieve considerable accomplishments in its projects overcoming global events to achieve the major goal by providing all means of comfort and luxury for its customers to meet their needs.
She added that the 2500 residential units in Azha Ain Sokhna are designed with the latest environmental and sustainable engineering and construction methods, in terms of design lines and advanced engineering models that rely on the latest innovative future ideas in forming and designing the units.
El Shaer announced the opening of the largest gym in Ain Sokhna, managed by Befit, in addition to the launch of Azha Sports Club, which includes various sports courts (Paddle-Football – Basket- Tennis- Multipurpose court) managed by a renowned sports management company
“The most important characteristic of “Azha Ain Sokhna” is the deployment of the largest consulting and engineering design companies in the world. These designs complimented Asha’s name to fulfill the vision of Azha being a shining star in Ain Sokhna’s sky, in addition to naming each village within the resort with a specific star name, ” El Shaer concluded
