JUMEIRAH EGYPT races against time to execute NAIA BAY
To keep pace with its strategy for speeding up the development and renovation works and the injection of investments into the Egyptian market, JUMEIRAH EGYPT for Real Estate Investments has obtained the ministerial decree No. 608, dated September 7, 2021, to start its project, NAIA BAY located in Ras El Hekma Bay on the North Coast.
By obtaining this ministerial decree and signing a land allocation contract with New Urban Communities Authority, JEREI is becoming a frontrunner among the Egyptian developers.
Upon receiving the land allocation contract, JEREI kicked off the construction of NAIA BAY and finalized up to 50% of ground-flattening works.
Hisham Eldanasoury: The company has an integrated vision and strategy for expanding in the Egyptian market and carrying out projects that add value to the real estate market
JEREI signed contracts with several world renowned brands to have outlets in NAIA BAY, such as Abu Ouf, under the management of Concorde Hotels, KidZania, Andiamo, Miadus and TWC.
A big gala was held at JEREI to announce this big news in attendance of Hisham Eldanasoury, CEO of JUMEIRAH EGYPT for Real Estate Investments and a group of success partners.
At the outset of the event, a recorded speech by chairperson of JEREI Mr. Mansour El Othaimeen was played. The attendees included manager of Concorde Hotels & Resorts Simon Penhaligan, CEO at KidZania Ahmed Habib, founder of Andiamo Restaurants Roy Rizq, founder & CEO of Miadus Wael Shawket, CEO of TWC Sherif Bendary.
Hisham Eldanasoury, CEO of JUMEIRAH EGYPT for Real Estate Investments said that the company has an integrated vision and strategy for expanding into the Egyptian market and carrying out projects that add value to the Egyptian market.
" The company is a frontrunner among real estate developers, as it obtainted NAIA BAY from NUCA and paid off all dues."
The project, he added, will be carried out by its subsidiary, JUMEIRAH EGYPT Trading & Contracting Co., with the latter having an astounding track record of up to 20 fully-finished projects.
JEREI entered into agreements with world renowned brands and sealed partnerships in the service sector with top hospitality, recreation providers and hotel management firms in order to ensure sustainability of the project and its year-long viability as a tourist hub.
Head of the Commercial Division at JEREI Tarek Eid said that the involvement of top commercial & recreation world tycoons in kick-starting the project is a milestone stride conducive to attract new customers from the European and Arab market, a fact that helps secure a place for the North Coast on the radar of Arab & European investors and tourists.
That said, the Egyptian State's development plan set for Ras El Kekma Bay city with the goal of turning it into a high-end hub in the Mediterranean Sea will help bring in a new segment of customers to Egypt's real estate market and thus enhance the property export drive.
In the same vein, head of Marketing Division at JEREI Dr. Rasha Hagag unveiled the company's plans in the upcoming period for accessing the Arab and European market in cooperation with international partners.
With unique surroundings and mesmerizing views, the innovative design of NAIA BAY is inspired by the Greek school of art and construction along with contemporary architecture.
With an imperial waterfront for all units, the design of the project, which is located at 212 Km aims to meet the clients’ needs as it overlooks artificial lakes to provide a water view for all units. Moreover, it offers a wide range of services and amenities, among them an international 5-star luxury hotel, a shopping center, a private beach, swimming pools, cafés, restaurants, and a private beach club.
NAIA BAY has 732 units with various residential types that cater and appeal to clients’ different needs ranging from 65 sqm to 520 sqm. The project includes a plethora of utilities and services; additionally, it is divided into 6 different areas to ensure the luxury and privacy of customers, including a hotel area with a private beach and unique facilities, as well as a Bungalow and cabins, and a “Fira” area for villas, twin houses, and townhouses.
It also contains a “Pelagio” neighborhood, which consists of twin homes with a private imperial waterfront, and a “Hali” area that includes townhouses that overlooks the lagoons. Furthermore, it features a “Plaka” region for Commercial Outlets and Chalets, a “Poli” area for Lavish Kiosks, Cafés, and an outlet for International Brands. Moreover, it includes a boutique hotel area
The US-based company, Crystal Lagoon, will oversee the construction of the 60,000 sqm crystal lagoon to provide an unparalleled experience and service the project’s residents while ensuring their privacy.
It’s worth mentioning that Ras El Hekma Bay extends over 48 km on the Mediterranean Sea, which makes it a strong competitor to the world’s greatest beaches. The aim of the city is to become one of the most popular destinations around the world, due to its proximity to the New Alamein Airport.
