Chairman and Chief Editor
Bedour Ibrahim

With investments worth EGP135 billion and a 36% increase in land portfolio

Al Ahly Sabbour redefines the Real Estate Sector by Launching its Latest Projects "Summer" in Ras Al Hekma and "At-East" in Mostakbal City during Q1 2024

Wednesday 13/March/2024 - 11:08 PM
أصول مصر

Al Ahly Sabbour has unquestionably proven itself as the leading real estate company in Egypt، due to its remarkable ability and extensive experience in exploring new destinations and providing its clients with exceptional investment opportunities. With over 30 years of experience، Al Ahly Sabbour has established its unique character in the real estate market through its understanding of client’s needs، choosing prime locations، providing innovative designs، and offering smart solutions that maximize space utilization and efficiency، thus offering unique investment opportunities for its clients، giving them confidence and reassurance in their investment decisions.

Al Ahly Sabbour acquired 1045 new acres of land during the first quarter of 2024، which represents a 36% increase in the company's land portfolio. This acquisition includes 181 acres in phase one in Mostakbal City، which is a continuation of the company's success story as the first and greatest real estate developer in the city. The remaining 864 acres are located in Ras Al Hekma on the North Coast، which adds a new distinguished destination to the company's portfolio and completes the projects owned by the company on the North Coast. These new projects are scheduled to start this year، making 2024 a year of new projects for Al Ahly Sabbour.
Eng. Ahmed Sabbour، Chairman of the Board and Managing Director of Al Ahly Sabbour، unveiled the company's latest two projects in 2024، confirming that the company is expanding its land portfolio، proving that the Egyptian real estate sector is the driving force of the economy and capable of overcoming challenges and fostering sustainable development. Ras Al Hekma represents the future of tourism investments، while Mostakbal City is the future of residential real estate investment in East Cairo.
From this perspective، and after conducting a thorough market analysis، we decided to start 2024 with two exceptional projects. The first is "Summer،" which is located in Ras Al Hekma and spans approximately 864 acres، representing a new destination for the company in this up-and-coming area due to our belief that Ras Al Hekma is the future of tourism projects. The second project is "At-East" in Mostakbal City، East Cairo، which occupies 181 acres and is the last land piece available in Phase I of Mostakbal City، adding to our success story in this bustling neighborhood.

A visit to the company projects

This statement came during the press conference hosted by Al Ahly Sabbour at Al Masa St. Regis Hotel in the New Administrative Capital، attended by Mr. Mahmoud Dakroury، General Manager of the Investment and Development Sector on behalf of Engineer Ayman Al Qussy، CEO of Midar Development Company، and Dr. Mohammed Rabie، Chairman of the Board of Moon View for Real Estate and Tourism Investments. The conference followed a media visit to the company's projects in Mostakbal City، where reporters were updated on the latest advances in projects such as Alaire، Green Square، L'Avenir، Rare، and The Ridge، among others.
Sabbour stated that the "Summer" project in Ras Al Hekma is located at KM 222 on the Alexandria-Marsa Matrouh Road with investments around EGP 100 billion. Phase one will be launched soon، with a total sales target of EGP 15 billion by 2024. It boasts a 900-meter waterfront that overlooks the North Coast's most magnificent beaches. It is a massive mixed-use development in the heart of North Coast."

The "Summer" is an integrated residential project with integrated community services and recreational activities that provide clients with an extraordinary lifestyle. One feature of the project is that it is based on natural leveling، which ensures that units overlook water throughout. Also، WATG، a global corporation، will develop the project's master plan. They have offices in London، Singapore، Istanbul، Los Angeles، and New York، and have worked on projects in 160 countries. They are pioneers in the design of integrated luxury resorts.

The “Summer" project is a new destination for Al Ahly Sabbour، aimed at a new client segment seeking tranquil distinction and well-being، as Ras Al Hekma region has one of the most glamour beaches and is considered an emerging touristic destination where we offer a different lifestyle to our clients. The project will be developed in multiple phases over 10 years، and it will include a variety of units such as cabins، chalets، townhouses، twin houses، independent villas، and single-story villas.

Standalone villas

“The second project dubbed the "At-East"، is Al Ahly Sabbour 7th project in Mostakbal City with investments around EGP 35 billion. The 1st phase of the project includes standalone villas، twin homes، and townhouses developed in a variety of designs that are expected to make a significant difference in the Egyptian real estate market، particularly after the company conducted market research in this region”، Eng. Ahmed Sabbour continued.

Through this project، the company will present 30 years of expertise and ingenuity in all project’s components، in line with the company's willingness to utilize luxurious concepts in the projects to meet the demands of clients who have placed their trust in the company for decades. Al Ahly Sabbour will launch the first phase of the project on an area of 60 acres within the total land area of approximately 181 acres acquired from Midar Investment and Development Company، taking advantage of its strategic location as the last land plot in phase I of Mostakbal City، equipped with different amenities including electricity، natural gas، water، wastewater، and communications networks. It is located minutes away from key road networks، including the Cairo-Suez Road، the Middle Ring Road، the Regional Ring Road، and the El-Amal Axis، making it a central hub and residential destination for those seeking distinction. We strive to provide a real estate product that is up to date with Egypt's latest real estate trends while adhering to the highest standards. The company will introduce a new concept to provide high-end real estate projects with modern designs and functional areas to suit all ages and styles.
Eng. Ahmad Sabour pointed out that targeted sales of the project for this year are estimated at approximately EGP 8 billion in 2024. The project's design is characterized by harmony and connection from the inside and outside، with all its units overlooking wide green spaces and water features. The company provides all public and recreational services to provide an unprecedented recreational living experience for those seeking a different lifestyle. At-East's new project is located within minutes from the New Administrative Capital، reconfirming our commitment to building real estate projects that provide added value to our customers and meet their different needs with non-traditional real estate products.
The new At-East project is being launched in response to the client’s high demand for the company's projects in Mostakbal City، which follows the success of L'Avenir، Green Square، Alaire، Wood Walk، The Ridge، and Rare. Furthermore، Al Ahly Sabbour is the first developer to deliver projects in the city. The additional land piece adds significantly to Al Ahly Sabbour's land portfolio in Mostakbal City، which currently totals around 1،000 acres. Al Ahly Sabbour is the first and largest real estate developer in Mostakbal City، with a total of 7 projects.

Sabbour concluded: "2023 was a year of accomplishments and record-breaking results، which we are proud of." The company's strategy was the primary cause for its success on all levels. Today، we begin 2024 with a new milestone and two new projects added to Al Ahly Sabbour's extensive list of accomplishments، confirming our trust in the investment environment in Egypt."