Egypt’s North Coast will soon witness the launch of the largest residential and tourism project, which is a qualitative leap in real estate and tourism investment in the entire North Coast.
Maadar Development that achieved a huge boom and footprint in Ain Sokhna in its project under the name of Azha brand and has become the most important resort in Ain Sokhna is launching the new project in North Coast.
Gasser Bahgat, chairman of Madar Development stated that the new project will be developed on 250 acres in Ras El-Hikma area in one of the most beautiful places in the North Coast, with initial investments worth approximately EGP 20bn.
Bahgat said that the details of those investments will be announced as soon as possible.
Bahgat added that the new project in the North Coast is located at kilo 214 on Alexandria-Matrouh Road in Ras El-Hikma area, close to the new road network that shortens the time to reach this distinguished part of the coast, especially Dabaa Road.
He further noted that the new project will be a distinctive mark on the North Coast in terms of green spaces, recreational, tourism and commercial services, in addition to, types of units and finishes at the highest level, and all this will be completed in an unprecedented manner on the North Coast.
The Company’s chairman revealed that preparations for the launch of the new project in the North Coast had begun, starting from the selection of major local and international engineering companies, designers and consultants in all disciplines.
Accordingly, Maadar is betting on providing a unique resort in the North Coast featuring all services and entertainment activities, befitting the reputation of Madar and the level of its target customers.
Bahgat announced that Madar deals slowly, deeply, and carefully before launching any new project, in order to preserve distinguished position that Madar enjoys in Egyptian real estate market, which is based mainly on full commitment to its customers and extreme excellence of services it provides.
“Madar had postponed its investment step in the North Coast during the last period to direct our full energy to Azha Resort. The resort became an inimitable mark in Ain Sokhna and the finest integrated residential tourism resort in it then after the company proved its great success in Azha, besides, its commitment to delivery timetables and the implementation of services and finishes with a higher quality than what is agreed upon with customers,” Bahgat elaborated.” Moreover, after Madar occupied its distinguished position now among the largest and most important Egyptian real estate development companies, it began heading to the North Coast, with the expertise and reputation it gained from Azha Ain Sokhna project.”
After Eid Al-Fitr holiday, a press conference will be held to announce all details of the new project in the North Coast, he concluded.