Jdar Developments to hand over 700 units at North Coast's Sea View
Managing director: Up to EGP5bn investments injected into the compound and the first phase was completed in the span of 24 months
Investments injected into Sea View compound amount to EGP5bn, as it is divided into 3 phases, the first one of which constitutes up to 50% of its whole area, according to managing director at Jdar Developments Ahmed Fakhry.
Jdar Developments finalized the first and second phases
Jdar Developments managed to sell the entire first and second phases in record time despite the crisis engulfing the Egyptian real estate market, showing off how genuine trust Jdar Developments enjoys in the Egyptian market.
Sea View compound, situated at 187 kilo on Alexandria-Mattrouh Road, overlooks the sea directly and is two-hour drive from Fouka Road, he explained.
With it having a 1000m beachfront, the compound is supplied with upscale varied services.
Out of a total area of 137 acres, the compound's services and recreational spaces spread over 300000m area that overlooks the sea directly.
The compound consists of 2 hotels, five-star hotel that overlooks the sea, a commercial mall, 23 swimming pools, kids area, aqua park, a hygiene club, he noted.
The 2000-unit compound includes standalone villas, twin houses, chalets with spaces and prices starting from 57m and EGP875,000 respectively, as a 7-year instalment plan is made available.
Sea View compound is one of the projects that were launched at the time of holding the 2015's Economic Summit under the auspices of President Abd El Fattah El Sisi, he added.
" These kind of projects won special interest from the political leadership, a fact that worked as an impetus for the company to support the state and serve the governmental developmental plans focusing on building affordable housing units, especially at the time of Coronavirus outbreak."
The company's new philosophy makes injecting money into properties the best investment at the time being, he elaborated.
Jdar Developments poured in EGP1.5bn in Sea View compound
On the other hand, chairperson of Jdar Developments Wael Abd El-Ghani said that the company managed to occupy a prestigious position in the real estate market in record time owing to its top-notch expertise and high solvency.
" The company injected up to EGP1,400bn into construction works, alleviating it from the need to taking out loans from banks."
Just recently, Jdar Developments started off negotiations with a number of foreign companies for running the compound's two hotels, as it has up to 300 hotel rooms.
Hany Farag, member of the board and chief executive at Jdar developments, said that the company's policy favors spending no money on advertisement, in contrast to other companies bent on relegating constructions to later stages.
Building projects ahead of schedule and sticking to delivery dates are the best tool for promoting the company which is already gaining high esteem, he noted.
Although it has entered the Egyptian market just recently, Jdar Developments managed to chart out a distinct policy reliant on expertise, commitment to implementation and high solvency enabling it to execute whatever projects it announces.
The compound land was allocated back in 2017 and the delivery of the fully finished units of the first phase is underway, he continued.
The compound consists of two five-star hotels with world standards designs, due to be constructed in the third phase.
It also includes kids area spanning 30,000sqm area, tennis courts, a gymnasium, Jacuzzi, sauna, and a track.
Further still, it has a 30,000sqm food court hosting the most known world brands, and directly overlooking the sea.
Additionally, there is a 20,000 sqm commercial area serving and providing the entire compound with all supplies, amidst the presence of top world brands.
The company hired the two design and oversight consulting bureaus of the African Advisory office run by Dr. Ismail El Adl and Dr. Ahmed El Adl and Omran Misr Consultancy, run by Dr. Mostafa Gabr, for supervising the finishing works.
According to board member Mohamed Al Araby, the North Coast's Sea View compound features a beachfront directly overlooking the sea on a 1000km beach .
The compound includes a club house area serving the elderly, kids area spanning a space of 5,000 sqm, aqua park, together with 22 swimming pool, of which two are covered.
Additionally, the compound has a family-friendly beach and a 40,000m court food that overlooks the sea directly.
" Jdar Developments strives to fulfill the customers' wishes, and to pour in huge investments into two projects at the Red Sea's Sahl Hashish, one of which is slated to be launched in the span of a few days at competitive prices."
This project includes 40m units with varied spaces together with integrated services, namely a club, a commercial mall and one hotel. The second project is due to be built in Ain Sokhna, he elaborated.
" The company owns another project at Sahl Hashish over an area of 100,000 sqm, the first phase of which has been executed over 25% of the total area," said he, adding that the diversification of projects launched by Jdar Developments emanates from a policy opting for diversifying its own client portfolio.
