Jumeirah Egypt Real Estate investment announced launching its second project in the real estate market in one of the most prominent areas in the New Zayed district, as part of the company’s expansion plan, which aims to implement several diverse residential projects during the coming three years in several new cities to align with the state’s views in achieving urban development and planned expansions to increase the urban area in Egypt.
Eng. Hisham El-Danasoury, Jumeirah Egypt CEO, said during a press conference held by the company to announce all the details concerning its new project “Cove”, which is located in New Zayed directly on Cairo-Alexandria Desert road, on an area of 50 acres as a first phase, with 4 billion pounds as estimated total initial investments, thus the company’s total investment in the market reached 11 billions,
pointing out that the project is a luxury residential one due to the area in which the land is located, which is considered one of the most developed areas in New Zayed, pointing that the project includes 168 units in the first phase and consists of Standalone villa, Townhouses, Twin houses, and the architectural designer of the project is El Ghoneimi Architects.
El-Danasoury added that they are targeting, through their presence in the Egyptian market, to implement exceptional projects that align with the unprecedented urban development that Egypt is witnessing now, and fulfill the desires of clients in providing a real estate product that makes a difference in the Egyptian market, thus the company always keening to choose the locations of its projects with great care and uniqueness in terms of the project site, which is minutes away from the main axes and roads, as “Cove” is 10 minutes from 26th of July axis, 9 minutes from Rod Al Farag axis, 6 minutes from Lieutenant General Mohamed Ali Bridge, 10 minutes from Sphinx Airport, 5 minutes away from Dabaa axis, 19 minutes away from Juhayna Square and the Dahshur link, and 34 minutes away from the New Egyptian Museum, in addition to the company’s keenness to diversify the project’s areas which vary from 290 m² to 380 m² for Stand Alone villas, from 235 m² to 270 m² for Twin Houses, and 200 m² for Town Houses, to apply all the client’s desires, and provide high-class projects and distinguished services to be a strong addition to the Egyptian real estate market and exceeds all expectations and contributes strongly in changing the concept of architecture and sustainable development, whether for NAIA BAY project or all of the company’s future projects.
He explained that “Cove” project has many advantages, as the road frontage includes Club Houses specialized for the project, a commercial entertainment area, and a mosque, and very soon will be an announcement concerning trade and entertainment brands, also Facility Management Company that Jumeirah Egypt will contract with for “Cove” project, as the company managed in less than a year of its presence in the Egyptian market, to launch two projects, the first is NAIA BAY project in the North Coast in Ras Al-Hekma area, with an investment volume 7 billion Egyptian pounds, which is designed on the modern Greek architectural style by El Ghoneimi Architects, as NAIA BAY project was very popular in terms of area variety as it ranges from 65 m² to 520 m², and the type of units varies from Standalone Luxurious Villas, Town Houses, Twin houses, and Chalets, and NAIA BAY project is one of the most distinguished projects in the North Coast, due to the presence of Crystal Lagoons with an area of 60,000 m² that includes a private beach for all units of the project.
He pointed out that the company is working hard to upgrade the concept of residential communities in terms of choosing the most distinguished locations and offering the best services to enhance the vision of the political leadership in Egypt in terms of building urban and residential communities and ensuring the comfort of its residents and the state’s vision for the year 2052 to achieve comprehensive sustainable development and real estate products with an investment value that provide its residents’ comfort, happiness and reassurance, showing that the company’s plan during 2022 is to expand by offering more projects and that their next destination will be a new project in East Cairo due to the very high demand that this vital area enjoys.